Commercial Real Estate Enters New Growth Phase as Demand Spreads Beyond Traditional Hubs
Delhi NCR, September 24, 2026: India’s commercial real estate market is entering a new growth cycle characterized by expanding demand across non-traditional corridors. Data from CBRE shows office absorption reached a record 45.5 million sq ft in the first half of 2026, with 24.6 million sq ft leased in the second quarter. Developers launched a record 32 million sq ft of new supply during H1, reflecting expanding operational scale across the sector.
Global Capability Centres (GCCs) remain primary demand drivers, accounting for 46% of Grade A office leasing in H1 2026 with 16.6 million sq ft, according to Colliers.
Harinder Singh Hora, Founder Chairman of Reach Group, said, “With investments in road connectivity, metro expansion and regional infrastructure, the focus is increasingly on strengthening Gurgaon’s integration with Delhi and the wider NCR. At the same time, the presence and expansion of global MNCs, which have established offices and leased significant commercial spaces across the city, continue to reinforce its position as a preferred business destination. As newer corridors gain connectivity and infrastructure support, commercial growth is extending beyond traditional office districts, creating fresh catchments for businesses and developers. The opportunity today is not merely to develop standalone office buildings, but to create larger, better-planned business districts that can support the evolving needs of enterprises and the workforce.”
Emerging corridors across Noida, Greater Noida, and the Yamuna Expressway are acquiring momentum alongside technology and data center investments.
Abhishek Trehan, Executive Director of Trehan IRIS, said, “The expansion of data centres is adding another layer to the transformation of Noida, Greater Noida and the Yamuna Expressway region. Companies such as Microsoft, HCL and Tech Mahindra have already strengthened the region’s technology and corporate profile, while investments by leading data-centre players are adding a new dimension to its digital infrastructure. This is supporting the emergence of integrated business districts and providing a significant fillip to commercial, retail and luxury residential development by established developers across the region.”
Regional leasing metrics reflect these shifting dynamics. Delhi-NCR recorded 2.8 million sq ft of gross leasing in Q1 2026, with Gurugram comprising 60% and Noida 37%.
Salil Kumar, Director- Marketing and Business Management at CRC Group, said, “Retail is increasingly following where people work, live and spend time, which is why high streets and mixed-use locations are becoming important alongside established malls. In H1 2026, Delhi-NCR was among the leading retail markets, while domestic brands accounted for more than 70% of leasing nationally. The rise of D2C brands is also interesting because many of them are now using physical stores as part of their expansion strategy rather than treating them as a separate channel.”
