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About 50% of new office supply in NCR to come in Noida by 2020: Report

Over 44 million sq ft of new office supply is at various stages of construction in the National Capital Region (NCR), according to Colliers International India. About 50% of this new supply will come in Noida while the remaining is distributed among Gurugram (40%) and New Delhi (8%). “Amid high vacancy rates, developers in Noida have deferred the completion of projects under construction and refrained from launching new projects in Q1 2018. However, looking ahead, around 13 million sq ft of robust supply pipeline is scheduled to be completed over 2018-2020, which should subsequently increase the overall office stock of Noida by almost 44%,” said Sanjay Chatrath, Executive Director, NCR.

Source : ET Realty