Construction Industry News
According to a Cushman & According to Wakefield, companies continue to choose Gurgaon over Noida for new office space, with the satellite city in southwest Delhi accounting for 80% of the National Capital Region's rental during the April-June quarter.
Businesses began to move to Noida after the initial shutdown in March 2020, as rents were less than half that of Gurgaon, and as a result, Noida's share of total leasing exceeded Gurgaon's for the first time in April-June 2020, this has changed again, partly due to a lack of new office space in Noida to meet demand.
According to the report, the NCR recorded robust rental of 3.63 million square feet in the second quarter, up 6.13% sequentially and 46% year-over-year.
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