Area of NCR is anticipating a surplus supply of forty eight million square feet of commercial office spaces provided and kept for office use for over the next three years that may result in decline of the rental prices. Massive supply of commercial spaces used for setting up of offices may come up in the drastically growing Noida and Gurgaon markets. This may result in witnessing of a future downward trend on prices of rent. But in contrast with these growing economies, price rents in city of Delhi may rise due to inequalities observed in the demand and supply of the commercial spaces given on rent for the purpose of office use.
It is noted that the volume of the supply of commercial spaces that is predicted to enter the NCR market in the first quarter of 2013.This supply of the space to be used for construction of the offices in entrepreneur friendly districts of Gurgaon and Noida may soon observe a fall in the rental prices.
The rental price in the areas across south business district and central business district of Delhi are expected to witness an increase owing to the predicted augment in demand for commercial office use and lack of new supply in this growing and emerging markets.
The normal monthly rent of commercial spaces allocated and provided for office use in Gurgaon is approximately about Rs 40 per square feet and Rs 80 per square feet in Noida. In Delhi, the rent prices in central business district are Rs 160 per square feet and Rs 130 per square feet in south business district.
Thus there will be a rise in commercial office spaces which will be coming up in some of the prime locations of Delhi.