Report: Gurgaon accounts for 80% of NCR office leasing

01 Nov 2022 CW Team

According to a Cushman & Wakefield report, companies continue to prefer Gurgaon over Noida for new office space, with the satellite city on Delhi's south-west accounting for 80% of the National Capital Region's leasing during the April-June quarter.

Companies began to relocate to Noida following the first lockdown in March 2020, as rent was less than half that of Gurgaon, and, as a result, Noida's share of overall leasing surpassed that of Gurgaon for the first time during April-June 2020. However, this has changed again, in part due to a lack of new office space in Noida to meet demand.

According to the report, the NCR recorded robust leasing of 3.63 million sq ft during the second quarter, up 6.13% sequentially and 46% year on year.

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