Delhi-NCR Office Market Report: Q1 2026
English Report 한국어 보고서 Delhi-NCR Office Market Report: Q1 2026 I. Executive Market Overview Operating in a stable economy with 7.80% GDP growth and a 58.2 Services PMI, the Delhi-NCR office market exhibits strong fundamentals [cite: 1, 2] . The region recorded a gross leasing volume of 2.8 million sq. ft. in Q1 2026, a 36% q-o-q increase [cite: 2] . Net absorption hit 1.51 million sq. ft. [cite: 2] . Deals over 100,000 sq. ft. dominated, capturing 48% of the activity [cite: 1] . Demand was driven primarily by flexible workspace operators (27%), and importantly, all Q1 flex deals were fresh space take-ups, underscoring robust market confidence [cite: 1, 2] . II. Submarket Dynamics & Key Metrics Gurugram captured 60% of leasing, followed by Noida at 37% [cite: 2] . The stock-weighted average rent is INR 92 per sq. ft. per month (up 6-9% y-o-y) [cite: 2] . Submarket variations highlight significant concentration in key areas...