Faizan Haidar

India faces a 20 million sq ft shortage of Grade A+ office space annually as demand surpasses supply. Strong leasing activity, exceeding 70 million sq ft for the third consecutive year, highlights this gap. Developers are racing to build more premium spaces with amenities to meet the rising demand from global companies.

Mall operators are urging retailers to postpone their end-of-season sales (EOSS) to January. Several retailers began discounting early due to concerns about unsold winter inventory and a shorter shopping season. This early start impacts mall revenues as they operate on a revenue-sharing model. Retailers hope the discounts will boost cash flow and increase revenue.

Incuspaze, a flexible workspace provider, secured 100,000 sq. ft. at HQ27 in Gurugram, aiming to raise $25 million pre-IPO. This expansion reflects the booming Indian office market, particularly in Delhi NCR. Incuspaze plans further growth, targeting 2 million sq. ft. by 2025, amidst a projected surge in flexible workspace demand driven by hybrid work models.

Synopsis India's office leasing market is projected to hit a record high in 2024, driven by Global Capability Centers (GCCs) and robust demand. While a slight dip is expected in 2025, growth will remain strong, fueled by GCC expansion and other factors. Limited Grade-A space is anticipated, encouraging pre-leasing strategies.

Eleven major listed real estate developers in India plan to launch over 253 million sq ft of new housing in the coming years. Prestige Estates, DLF, and Signature Global lead the charge, accounting for over half of the planned supply.

Anurang Jain, managing director of Endurance Technologies, purchased a ₹130 crore bungalow in New Delhi's Kautilya Marg. This adds to the surge in luxury home sales this year, with 58 ultra-luxury homes sold across Delhi, Mumbai, and Hyderabad, reflecting high demand and limited supply in the prime property market.

Dwarka Expressway in Gurugram has seen a post-pandemic residential boom, becoming the area's largest market. New launches have doubled, driven by improved connectivity and developer interest. The trend favors premium apartments, shifting from the previously dominant sub-1 crore segment.

Delhi's population is projected to swell by 12 million by 2041, requiring 1.7 million new homes. This presents a major opportunity for developers, but also necessitates bold reforms and sustainable housing solutions like transit-oriented development and slum rehabilitation to address the existing housing deficit and accommodate future growth.

NCRTC is leasing commercial space at six RRTS stations. The corporation aims to create commercial hubs. These hubs will generate non-fare revenue. Parking spaces will also be developed. The project will improve the commuter experience. Namo Bharat trains are already running on part of the corridor. The entire corridor will connect Delhi to Meerut.

Housing supply in India's top nine cities is projected to decline 33% and sales by 21% in Q4 2024 compared to the same period last year, according to PropEquity. However, both supply and sales saw a quarter-over-quarter increase. Delhi-NCR was the only city to experience year-over-year growth in both categories, defying the national trend.