Monday, January 28, 2008

REAL ESTATE SCENARIO-NCR

Absorption across NCR was approximately 6.6 million sq ft during 2007 and recommitments amounted to an additional demand of 4 million sq ft. Gurgaon Accounted for 4.64 million sq ft or 70 per cent of total absorption in the NCR. Noida, the next biggest market, accounted for 1.37 million sq. ft or 21 per cent of total absorption. Delhi witnessed absorption of 0.66 million sq ft Of this approximately 3.28 lakh came from new developments in Jasola, while the remaining 2.95 lakh sq ft came from older, second-generation developments in the CBD and South CBD.

The total supply in the NCR amounted to 11.53 million sq ft. Gurgaon accounted for the largest share of approximately 6.4 million sq ft Noida and Delhi accounted for 4 million sq ft and 1.7 million sq ft respectively.

Availability of land, improving infrastructure, and better connectivity are some of the factors why most of the supply came in the suburban areas. Prime locations and buildings in most micro markets have low or negligible vacancy. Demand for grade-A Properties Continues to rise in NCR, as is evident from the pre-lease commitments signed

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