The Delhi-NCR region has emerged as a central hub for multinational corporations (MNCs) and Global Capability Centers (GCCs), attracting a surge in office space demand driven by its strategic location, world-class infrastructure, and business-friendly ecosystem. Key commercial hubs like Gurugram, Noida, and Faridabad are witnessing significant growth in leasing activity, with GCCs leasing nearly 25 million square feet in 2024—almost triple the 9.1 million square feet they leased in 2022.

Sandeep Chhillar, Founder and Chairman of Landmark Group, emphasized the strong growth trajectory of Delhi-NCR’s office market, particularly in Gurugram. “With top-tier commercial spaces, unmatched connectivity, and thriving business districts, the city offers the necessary infrastructure global companies need. Gurugram continues to lead as NCR’s corporate hub,” he said. This growth is further supported by significant infrastructure projects such as the Dwarka Expressway and metro expansions, which continue to enhance the city’s appeal to businesses.

Gurugram, also known as Cyber City, remains a prime destination for MNCs and GCCs, thanks to its premium office spaces and well-established corporate ecosystem. New business corridors like the Golf Course Extension Road, SPR, and Dwarka Expressway are gaining traction, offering integrated, mixed-use developments that blend office spaces with retail, hospitality, and recreational facilities. Harinder Singh Hora, Founder Chairman of Reach Group, highlighted the growing demand for such developments, noting that modern office spaces are evolving beyond traditional setups.

Meanwhile, Noida is experiencing a boost in demand, especially along the Noida-Greater Noida Expressway, where cost-effective, modern workspaces attract global firms. Faridabad is becoming a viable business destination, with improving metro connectivity and ongoing infrastructure projects like the Faridabad-Noida-Ghaziabad Expressway and the Delhi-Mumbai Expressway. “Faridabad is fast emerging as a location offering work-life balance, making it a promising hotspot for commercial investments,” said Mohit Goel, MD of Omaxe Group.

As per Anarock, Delhi-NCR has seen 50.9 lakh square feet of office space leased in the last two years, reinforcing its status as a key destination for GCCs. The region’s availability of Grade A office spaces, cost advantages over cities like Mumbai and Bangalore, and excellent transportation networks make it an attractive choice for global businesses.

Ashwani Kumar of Pyramid Infratech pointed out that the region is evolving rapidly, with emerging areas like SPR and Dwarka Expressway gaining traction due to flexible leasing options and premium office spaces. “With strong policy support and ongoing infrastructure upgrades, Gurugram’s skyline is evolving fast, setting the stage for the next wave of corporate expansion,” he noted.

In conclusion, Delhi-NCR’s commercial real estate market is poised for continued growth. As businesses increasingly demand tech-enabled, sustainable, and flexible workplaces, key micro-markets like Gurugram, Noida, and Faridabad are solidifying their position as top choices for global enterprises. The region is set to remain a significant destination for MNCs and GCCs for the foreseeable future.