Delhi-NCR: Commercial Real Estate Set for Major Supply Boost with 5 Million Sqft of New Grade A Space
The Delhi-NCR office market is set to see a significant revival with 5 million sqft of new Grade A supply over the next two years, driven by infrastructure improvements and corporate demand for high-quality workspaces.
DelhincrCommercial Real EstateGrade A SpaceInfrastructureCorporate DemandReal Estate NewsNov 17, 2025
Infrastructure is playing a crucial role in the transformation of the Delhi-NCR real estate market. The operationalization of the Dwarka Expressway, progress on the Delhi-Mumbai Expressway, the development of the Noida International Airport, and the expansion of the RRTS and metro networks are fundamentally reshaping how companies perceive and utilize the region. These improvements are making intercity travel simpler and more predictable, allowing businesses to plan expansions with multi-city accessibility in mind. This, in turn, is shifting corporate location strategies, as companies now seek to tap into talent, efficiency, and market proximity across the entire region rather than focusing on a single hub.
Another report by Cushman and Wakefield noted a 2.5 times increase in net leasing of office spaces in the Delhi-NCR region during the July-September period. Net leasing jumped to 3.79 million sqft (37.9 lakh square feet) in the third quarter of this year, up from 1.52 million sqft (15.2 lakh square feet) in the same period last year. Delhi-NCR contributed 23% to the total net leasing of office spaces across the top eight cities during the July-September quarter.
The return to office is stabilizing across sectors such as BFSI, tech, consulting, and especially Global Captive Centers (GCCs). This has intensified the need for workplaces that offer both functionality and employee-centric design. The renewed demand is also expanding the geographic lens, with firms exploring newer, better-connected micro-markets that offer smarter layouts, improved sustainability features, and the flexibility to scale in a rapidly evolving business environment.
Cities like Faridabad have transformed into dynamic commercial hubs, with a growing presence in retail, office, and mixed-use real estate. The increasing demand for Grade A office spaces in Faridabad offers businesses the opportunity to secure modern office environments at lower costs while benefiting from excellent connectivity and proximity to major NCR hubs like Noida and Gurugram.
Mohit Goel, managing director of Omaxe Group, highlighted the region’s renewed commercial momentum. “Delhi-NCR contributing 23% to net office leasing across the top eight cities this quarter shows the region’s renewed commercial momentum. With close to 5 million sq. ft. of new Grade A supply expected over the next two years, it signifies where the demand is flowing. Cities like Faridabad are finally entering the phase they have long been preparing for. The city offers a rare combination—competitive rentals, sizeable land parcels for large-format offices, and far greater affordability than established markets. Add to that its upgraded metro network, accelerated infrastructure projects, and proximity to the upcoming Noida International Airport, and Faridabad’s rise becomes undeniable.”
From a developer’s standpoint, the corporate interest seen today positions Faridabad as a serious, future-ready contender in NCR’s evolving office landscape, especially for businesses seeking scale without escalating costs, he added.
Meanwhile, Gurugram and Noida continue to anchor the region’s commercial strength, but with new dynamics. Gurugram’s robust MNC pipeline and rising demand along corridors like Golf Course Extension Road and the Dwarka Expressway signal a shift toward more integrated, high-quality work ecosystems. Noida-Greater Noida, on the other hand, is becoming NCR’s most active GCC belt, supported by attractive rentals, strong infrastructure, and a steady supply pipeline.
Sandeep Chhillar, founder and chairman of Landmark Group, emphasized Gurugram’s position as India’s most dynamic corporate hub. “What’s changing now is the qualitative shift—companies are looking for well-designed, efficient, ESG-ready office spaces that elevate employee experience. Micro-markets like Golf Course Extension Road and emerging zones neighboring the Dwarka Expressway are becoming preferred choices for global firms. The growing demand is not only for space but also for integrated work environments comprising accessibility, sustainability, and premium retail-social infrastructure. The upcoming supply wave will redefine workplace expectations and strengthen Gurugram’s position as a future-ready business district with global appeal.”
Amish Bhutani, managing director at Group 108, noted the encouraging outlook for Delhi-NCR’s commercial real estate, driven by infrastructure. “The Noida–Greater Noida Expressway corridor is emerging as one of the most exciting growth zones. We’re seeing a clear rise in demand for modern offices and retail formats, fueled by better connectivity and large-scale developments like the upcoming Noida International Airport, which is already boosting investor confidence. As new supply comes in, we expect Noida-Greater Noida to become one of India’s most important office growth zones, complementing Gurugram and expanding NCR’s overall corporate footprint.”
Sonakshi Wadhawan, CBO (Office Transactions) at RISE Infraventures, highlighted the emergence of Gurugram, particularly the Golf Course Extension Road stretch, as a strong pull zone for Grade A office demand. “Companies today are far more specific about their requirements; seeking good connectivity, sustainable buildings, and workspaces that are efficient and conducive to productivity. With the continuous growth and infrastructure maturity along the Golf Course Extension Road corridor, the location has evolved into a well-planned business destination. What’s happening in NCR isn’t just about adding more offices; it’s about a shift toward better-planned, better-connected environments that actually support how modern companies function.”
Therefore, the outlook for NCR’s office market points toward a more distributed and future-ready landscape. The long-standing dependence on Gurugram is beginning to ease as Delhi and Faridabad make their way back onto corporate shortlists, supported by infrastructure upgrades and renewed developer activity. This shift is setting the stage for NCR to operate as a unified, supply-rich commercial powerhouse.
Frequently Asked Questions
What is the expected new Grade A supply in Delhi-NCR over the next two years?
According to a joint report by CBRE and CII, about 5 million sqft of new Grade A supply is expected in Delhi-NCR over the next two years.
What infrastructure projects are contributing to the revival of the Delhi-NCR real estate market?
Key infrastructure projects contributing to the revival include the operationalization of the Dwarka Expressway, progress on the Delhi-Mumbai Expressway, the development of the Noida International Airport, and the expansion of the RRTS and metro networks.
How has the net leasing of office spaces in Delhi-NCR changed recently?
The net leasing of office spaces in Delhi-NCR increased 2.5 times during the July-September period, jumping to 3.79 million sqft from 1.52 million sqft in the same period last year.
Which cities in NCR are seeing significant growth in commercial real estate?
Cities like Faridabad, Gurugram, and Noida are seeing significant growth. Faridabad is emerging as a dynamic commercial hub, while Gurugram and Noida continue to anchor the region’s commercial strength with new dynamics.
What are the key factors driving the demand for Grade A office spaces in NCR?
The key factors driving the demand include better connectivity, sustainable buildings, employee-centric design, and the need for integrated work environments that support modern business functions.
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