Located in the lower north region, Delhi is the capital of India. It is bordered by Gurgaon, Faridabad, Ghaziyabad and Noida which is often referred to as NCT area. The NCT area along with Delhi is the most populous region in entire country and third largest in world. Delhi has fairly good infrastructure in terms of road connectivity and transportation along with a huge 25 million strong educated talent pool which are vital any business to flourish in any geography. With over 65% population less than 35 years in age, Delhi is one of the most young and vibrant cities. Being a historic city Delhi attracts most foreigners and tourists as well as it also serves as a focal point for the popular “golden triangle” packages customized by tour operators. Delhi climate is largely moderate thorough the year except for May, June and July when temperatures range between 39 and 45 degrees Celsius.
Delhi Commercial Office Space rental Trends.
Besides being a historic city its also the capital of India thus naturally attract businesses from across world to set up offices for economic opportunity. Delhi and its satellite towns are home to some of the largest and most successful domestic as well as international companies.
Office space rental trends of any city are mainly takes direction from the economy, employment and social factors. Delhi is no exception, being one of the capital of one of the largest and fastest growing countries across world it remains the favorite destination of most top foreign and domestic companies, institutional and individual investors.
Most of Delhi’s commercial office space hubs were planned back in the mid-20th century and had started to feel obsolete. However, government came to realize this lately and a conscious effort has been made over last decade by planning and developing new district centers like Aerocity, Jasola, Rohini, Saket, Dwarka, Gurgaon, Manesar, that are geared to cater to new age business sector like IT, ITES, technology, fintech space, startups which are fast becoming the largest employment generators and need world class infrastructure. Gurgaon’s cybercity is now home to world’s all top tech companies, similarly, Noida is a hub for textile and media companies. In terms of office space rentals in Delhi Connaught place still leads all areas, with the average asking price rising by 5% each year however, this is only for on a bunch of Grade A structures in CP. Most of the other buildings are still in reach of most businesses. Connaught place consistently shows up on top 10 market office space markets list internationally, in terms of asking rental/sq ft. Other fast emerging area which could potentially overtake Connaught place in coming years is Aerocity, which has become the favorite of most top companies in India because of its brand new modern infrastructure and strategic location near the international airport. Aerocity has just come up in the year 2016 and its over 2 million sq ft office space is already 90% occupied and rentals have peaked out to over 225/sq ft for few buildings.
Delhi Prime Office Space locations
Delhi’s office space districts can be broken down into five major zones. Below find out how they each are attractive in their own different style. What types of industries favor each location; what’s the strategic location advantage like; gauge into residential neighborhoods for recruitment drive assessment, determine commute times from and to nearby important landmarks etc.