{"id":20216,"date":"2013-07-15T15:30:02","date_gmt":"2013-07-15T10:00:02","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=20216"},"modified":"2020-06-15T03:57:16","modified_gmt":"2020-06-14T22:27:16","slug":"ncr-office-traction-june-2013","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/ncr-office-traction-june-2013\/","title":{"rendered":"NCR office Traction, June 2013"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-20217\" alt=\"NCR\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/NCR.jpg\" width=\"300\" height=\"250\" \/>The National Capital Region is the most sought after office destination as well as the most in-vogue real estate market in the country. The NCR office market has evolved exceptionally from mixed-use and conventional commercial developments in Connaught Place to ultra-modern office buildings in Gurgaon and Noida. Traditional Government Departments and private companies were the major occupiers in Central Delhi and NCR. A sharp upsurge in office space was witnessed with rapidly growing IT\/ITeS sector. Secondary and Peripheral Business Districts have emerged in NCR to accommodate the growing demand in the office market.<\/p>\n<ul>\n<li>A total of 27 transactions were witnessed during the fourth quarter of 2013 whereas previous year 45 transactions were observed in the same quarter.<\/li>\n<li>The total transacted space in the fourth quarter was recorded at 1.07 million sq ft with a downfall of 11 per cent from the previous year\u2019s transacted space.<\/li>\n<li>Absorption in the fourth quarter of 2013 observed a decline by about 24 per cent as compared to the previous year.<\/li>\n<li>IT\/ITeS sector usually contributes to about 42 per cent of the office space demand hence the slowdown in the IT\/ITeS has resulted in the slowdown of the NCR office market.<\/li>\n<li>Global economic sector has affected expansion plans of IT\/ITeS giants resulting in a 35 percent share in absorptions in the quarter four of 2013.<\/li>\n<li>Other service sectors including media, telecom, healthcare, travel and aviation, logistics and consulting companies contributed to 25 per cent in quarter four of 2013.<\/li>\n<li>BFSI sector contributed for about 23 percent in fourth quarter of 2013 with major absorptions by American Express of 0.25 million sq ft.<\/li>\n<li>The leading occupiers in fourth quarter of 2013 were American Express, Fiserv, Google, Jacob\u2019s, HCL, and Micromax.<\/li>\n<\/ul>\n<p>The NCR region is divided into the following different business districts<b>Central Business District (CBD)<\/b><\/p>\n<ul>\n<li>Comprises Connaught Place, Barakhamba Road and K. G. Marg which observed core transaction activities of CBD<\/li>\n<li>CBD was highly dominated by BFSI, Engineering, Electronics and Aviation sectors<\/li>\n<li>No new supply was recorded in the CBD whereas secondary supply witnessed good appreciation in leasing activity<\/li>\n<li>CBD contributed for 4 per cent of the total absorption in quarter four of 2013<\/li>\n<li>Very low vacancy levels were witnessed as no new supply entered the CBD<\/li>\n<\/ul>\n<p><b>Secondary Business District (SBD)<\/b><\/p>\n<ul>\n<li>Vacancy level in SBD was 12-25 percent of the total vacancy of NCR.<b><\/b><\/li>\n<li>33,000 sq ft of office space leasing <b>\u00a0<\/b>recorded<b> <\/b>in<b> <\/b>the<b> <\/b>SBD<b><\/b><\/li>\n<li>In fourth quarter of 2013, SBD shared only 4 percent of the total absorption in NCR which was 7 per cent in the previous year\u2019s fourth quarter<b><\/b><\/li>\n<\/ul>\n<p><b>Peripheral Business District (PBD)<\/b><\/p>\n<ul>\n<li>PBD was the gold mine for the office market in NCR which contributed for about 89 per cent of the total transaction in fourth quarter of 2013<\/li>\n<li>Gurgaon contributed to 60 per cent of the overall absorption an increase of 12 percent from previous year\u2019s fourth quarter<b><\/b><\/li>\n<li>Noida contributed to 28 per cent as compared to the 43 per cent in previous year<b><\/b><\/li>\n<li>\u00a0Faridabad PBD contributed a mere 5 per cent<b><\/b><\/li>\n<li>Majority of the contribution in PBD\u2019s have come from non IT\/ITeS companies <b><\/b><\/li>\n<li>Gurgaon observed leasing of approximately 0.65 million sq ft in fourth quarter of 2013<b><\/b><\/li>\n<\/ul>\n<p>NCR<b> <\/b>market was significantly strong in the Peripheral Business district and especially in Gurgaon and Noida regions. The absorption in Gurgaon has witnessed a vast increase in the past few years and unexpectedly Noida has witnessed very low absorption compared to the last year. Noida is expected to have about 17 million sq ft of office space by the end 2015 which will trigger demand for real estate in the National Capital Region.<span style=\"left:100%;display:inline-block;position:fixed\"><a href=\"http:\/\/rusbankinfo.ru\/\">\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a><a href=\"http:\/\/rusbankinfo.ru\/credits.html\">\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Capital Region is the most sought after office destination as well as the most in-vogue real estate market in the country. The NCR office market has evolved exceptionally from mixed-use and conventional commercial developments in Connaught Place to ultra-modern office buildings in Gurgaon and Noida. Traditional Government Departments and private companies were the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20216","post","type-post","status-publish","format-standard","hentry","category-prop-trendz"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NCR office Traction, June 2013 -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/ncr-office-traction-june-2013\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCR office Traction, June 2013 -\" \/>\n<meta property=\"og:description\" content=\"The National Capital Region is the most sought after office destination as well as the most in-vogue real estate market in the country. The NCR office market has evolved exceptionally from mixed-use and conventional commercial developments in Connaught Place to ultra-modern office buildings in Gurgaon and Noida. Traditional Government Departments and private companies were the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bharatestates.com\/blog\/ncr-office-traction-june-2013\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/gayatri.subramanian\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-15T10:00:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-14T22:27:16+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/NCR.jpg\" \/>\n<meta name=\"author\" content=\"gayatri\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gayatri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" 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