Leasing across Gurugram (Gurgaon) remained strong and significantly halted the overall in vacancies in the NCR, a report & ndash Market View & ndash for the first quarter of the year by CBRE said. Noida is the other city that has contributed to this performance. The report says: “Tier I cities in India all saw vacancy decline in Q1 2018 owing to upbeat demand and delays to new supply. New Delhi registered the largest fall of 1.24 ppt q-o-q (quarter on quarter) to 24%, thanks to strong leasing activity in Gurugram and Noida.”Gurugram’s commercial market continues to perform well, thanks to the overall infrastructure development, improved connectivity, and new supply coming along the expressways and highways in the city.Experts corroborate the trend. “Commercial market is doing good across India, and that includes the NCR markets too,”Surabhi Arora, senior associate director (research) at Colliers International, said.
Source : NAREDCO