Outlook 2023 India

DELHI NCR

NEW SUPPLY

NEW SUPPLY (MSF)

12

 NCR is expected to witness new completions of around ~16 msf from 2023 to 2024.  Under-construction projects are located mostly across Golf Course Extension Road in Gurugram and near Expressway region in Noida.  The upcoming years post-2024, are also expected to witness robust supply with approximately 19-20 msf space coming up during 2025 2026.

FORECAST

10

8

6

4

2

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield