Select Commercial Areas in Delhi-NCR See Rental Appreciation of 2-6% in Q2, 2019

New Delhi: Delhi-NCR saw quarterly rental appreciation to the tune of 2-6 percent across SEZ development in DLF Cybercity, Gold Course Extension and NH-8 in the June quarter of 2019 as compared to March quarter, according to a report by property consultant CBRE.

About 2-4 percent quarterly rental appreciation was witnessed across non-IT development on NH-8, Golf course Extension and Mina Noida. Some of the noteworthy leasing transactions during the June quarter of 2019 in Delhi NCR include 3,30,000 sq ft taken up by Global Logic in Oxygen Boulevard SEZ-Tower 3, phase 2 on Greater Noida Expressway. Another 2,10,000 sq ft was leased by Oyo in Cyberscape 1 on Extended Golf Course Road in Gurgaon and 58,900 sq ft was leased by Qualcomm in Candor Techspace SEZ Phase 3, Tower 6 on Greater Noida Expressway.

During the June quarter, technology companies led the leasing activity in the Delhi-NCR market, followed by research firms, consulting & analytics companies and co-working space operators.

The Delhi-NCR market saw supply addition by way of two medium-sized non-IT developments on NH-8 and Extended Golf Course Road, two medium-sized IT developments in Udyog Vihar and Noida Expressway and one small non-IT project on NH-8.

There was sustained occupier interest in Noida Expressway, Extended Golf Course Road and DLF Cybercity and they dominating the region’s leasing activity.