Following the MCD sealing drive, there has been a dearth of legal commercial space in Delhi and whatever is available is available for a premium. Demand has exceeded supply and this has led to escalation in commercial property rentals in the city.
In the central business district (CBD area, or Connaught Place), commercial rentals touched Rs 300-310 per sq ft per month, increasing 50-80 per cent year-on-year.
In the secondary business districts, the increase has been from Rs 150/sq ft/month to Rs 180/sq ft/month in the last six months. In Gurgaon, the average office rentals have increased from Rs 50/sq ft/month to Rs 80/sq ft/month, year on year. The retail rentals in prime markets of Delhi such as Khan Market have been touching the highs of Rs 900-1,000/sq ft/month.
With the dearth of legally available commercial properties in Delhi, Brix Research has compiled vacancy data i.e. through the feet-on-the-street methodology (primary research) we have compiled a list of vacant units in critical retail hubs of Delhi NCR. The report outlines a list of vacant units in commercial real estate in Delhi NCR region.
This is the first of its kind data which is based on authentic market information and may break traditional beliefs and myths like vacancy in retail is generally in malls and not in high streets or that there is nothing vacant in Old Delhi"s traditional retail hubs. We give you a low down on vacant commercial properties in Connaught Place, Rajouri Garden, Janakpuri District Centre, Defence Colony, Greenpark amongst many others and even bring to you vacant unit listings in the densely packed old markets of Delhi such as Chandni Chowk and Daryaganj. Finally we walk you down the new retail hubs in the suburbs of Ghaziabad, Gurgaon, Faridabad, Noida and Greater Noida.
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