Delhi-NCR Office Occupancy Set to Exceed 80% by FY27: ICRA
NEW DELHI: The grade-A office market in Delhi NCR is witnessing robust growth, with occupancy levels expected to reach 80.5-81.0% by March 2027, per ICRA, a rating agency. Since March 2023, occupancy has surged significantly, climbing 600 basis points to 78.6% by September 2025. This increase is largely attributed to strong net absorption outpacing new supply over several years. In FY2025, net absorption totaled 11.4 million sq ft, notably exceeding the 7.4 million sq ft of new supply. This trend has continued into the first half of FY2026, with net absorption reaching eight million sq ft compared to 7.3 million…