NCR Office Leasing Doubles, Rentals Soar Past ₹100/sq ft; Housing Market Shifts

• NCR office leasing surged 95% year-on-year to 4 million sq ft in Q1 2026, driven by domestic firms and Global Capability Centres (GCCs).
• Average office rentals in NCR crossed ₹100 per sq ft for the first time, reaching ₹105, a 15% annual increase.
• Office supply also saw a 14-fold increase, with 3.1 million sq ft completed, indicating developer confidence.
• Residential sales in NCR declined 11% year-on-year to 12,734 units, and new launches fell 8% in Q1 2026.
• Premium housing (₹2-5 crore) sales increased by 12%, while affordable and ultra-luxury segments saw sharp declines, indicating a market bifurcation.

Key Questions Answered

Will NCR office rentals continue to rise significantly?

NCR office rentals may continue to rise as demand accelerates. Office leasing in NCR surged 95% year-on-year in Q1 2026.

How will interest rates impact NCR housing demand?

Rising home loan rates are starting to impact NCR housing demand by creating affordability pressures.

What changes are expected in residential property launches?

New residential property launches are expected to see a pullback and developers are adopting a more cautious approach.