NCR's suburbs among the most preferred cost-effective rental markets in India: Savills India
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Loading... - Advika Varma
- 07 Jun 2022
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As occupiers are revaluating office portfolios with significant focus on competitive pricing, the Golf Course Extension Road (GCER) and the Southern Peripheral Road (SPR) with sub dollar office rentals and availability of quality office space have emerged as micro markets of choice, according to a report by Savills India.
The report titled – Dollar-Edge Rental Office Markets in India – states that post lockdown where hybrid work model is fast becoming a norm across sectors, these micro markets fit most of the shortlisting criteria of cost-conscious organisations in search of office spaces for relocation or expansion.
As of Q1 2022, GCER and SPR provided rental arbitrage of approximately 74% as compared to premium locations such as Aerocity, which are closer to the Delhi International Airport. In fact, all other key micro-markets of Delhi-NCR, including MG Road and DLF Cybercity, have surpassed the one dollar monthly rental mark.
Savills India forecasts real estate growth of GCER and SPR in the coming years owing to the enabling factors, including rapid infrastructure development, a sizeable IT SEZ mix in the supply of Grade A office buildings and affordable property prices as compared to nearly established areas. Read More...
