Commercial / Office Rentals - Delhi - NCR

The realty sector has finally witnessed the much needed correction for genuine industries and offices to expand and help the Indian economy grow. Here is an excerpt from CB Richard Ellis recent report on Delhi NCR Commercial / office Space Realty World.

There has been some correction in rentals, and leasing volumes have been low. In Gurgaon, pre-leasing has been quite slow, a situation that was uncommon before but which clearly highlights lower demand. IT/ITES rentals are expected to be under pressure while rentals for commercial office space are likely to remain stagnant. Noida has significant supply but slow leasing activity because of which rentals are expected to remain low in the next 2-3 quarters.

Delhi NCR - Grade A Office Space Rentals - In June-2008 and Sept-2008

• Connaught Place - Down from Rs 340 to Rs 300
• Nehru Place - Down from Rs 270 to Rs 240
• Jasola - Down from Rs 175 to Rs 160
• Gurgaon - Commercial - Stable around Rs 90
• Gurgaon - IT - Stable around Rs 50
• Noida IT - Down from Rs 50 to Rs 42