Delhi-NCR Office Occupancy to Soar Past 80% by 2027, Driven by Strong Demand

• Delhi-NCR's office market is entering a stable growth phase with improving occupancy and sustained leasing activity.
• ICRA report projects Grade-A office occupancy in Delhi-NCR to exceed 81% by 2027, a significant rise since March 2023.
• India's office market saw record performance in 2025, with net absorption reaching 61.4 million sq ft, a 25% YoY increase.
• Delhi-NCR led major markets with an 82% YoY rise in net absorption, with Gurugram anchoring demand and Noida/Delhi adding depth.
• Occupiers are making longer commitments in Grade-A assets, driven by multinational companies, GCCs, and technology firms.

Why It Matters: Delhi-NCR's office market is set for robust growth, with occupancy projected to cross 80% by 2027.