NewsVoir
Delhi NCR [India], August 26: The Indian commercial property market enters H2 2026 on a foundation of quality, connectivity, flexibility, and value, becoming the key demand drivers. GCC development, infrastructure improvement, and changing occupier demands are influencing the evaluation criteria for offices and retail properties.
As per the latest industry report, GCCs have contributed 43% to the total leasing of office spaces in India's major cities in the first half of 2026. In addition, the total office inventory in India surpassed 1 billion square feet in 2026.
Sanchit Bhutani, Managing Director, Group 108, said, "The commercial real estate sector is gradually shifting towards a demand-based phase where the occupants and investors are assessing the opportunities in terms of connectivity, quality, and sustainability. In locations like Noida and Greater Noida, the development in the infrastructure coupled with new business and job openings is supporting the increasing demand for modern office spaces. This trend will also push the developers to build commercial assets in sync with the changing requirements of the businesses and investors."
Building on this shift towards demand-led commercial growth, connectivity and infrastructure are also emerging as critical factors influencing occupier and investor decisions across key NCR markets.
Harinder Singh Hora, Founder Chairman, Reach Group, said, "The current momentum in retail leasing reflects a fundamental shift in how commercial destinations are being conceived and consumed. Retail performs best when it is anchored by a strong and evolving catchment, supported by residential, workplaces, hospitality, entertainment and dining that together create sustained footfall throughout the day. Gurugram is a strong example of this transition, with emerging growth corridors giving rise to new consumer catchments and expanding the addressable market for organised retail."
Mitul Jain, Managing Director, SPJ Group, added, "The commercial real estate industry, especially the retail segment, is increasingly adopting an experiential approach, wherein the objective of providing an experience is going beyond transactions to destinations which encourage the consumers to spend time, engage themselves, and keep coming back. In Gurugram, the new demand scenario of the consumers is leading to increased relevance of the retail settings that offer shopping, dining, entertainment, and convenience all under one roof and in a well-connected location. High visibility, accessibility, good catchments, and steady footfalls are increasingly becoming key factors that help the occupiers and investors gauge the future prospects of a commercial real estate property."
This growing emphasis on strong fundamentals and consumer-led demand is also reflected in the broader investment outlook, with investors increasingly assessing commercial assets through the lens of long-term resilience and real demand.
Ashwani Kumar, Pyramid Infratech, said, "Real estate investment in H2 2026 would be driven more by fundamentals than by sentiment, and will look towards the basic demand and the potential of the real estate asset. Aspects like connectivity, catchment areas, good development and the capability of an area to facilitate economic activities will continue to play an important part in real estate investments. In regions like Gurugram, the growing infrastructure and residential population create opportunities for commercial and retail spaces that can meet the needs of consumers and businesses. Such assets, which are supported by demand, proper location, good infrastructure and future-proof planning, would be able to create sustainable value and stay resilient in different market cycles."
Beyond Gurugram, the same fundamentals are gaining traction across emerging NCR markets, where infrastructure expansion and growing catchments are creating opportunities for integrated commercial developments.
Azad Ahmad Lone, President, Biigtech, said, "In Greater Noida, improving infrastructure, expanding residential catchments and the region's growing economic relevance are creating a stronger foundation for organised retail and commercial developments. Occupiers are increasingly seeking spaces that offer visibility, accessibility and a strong consumer ecosystem, while investors are looking for assets with sustainable demand drivers rather than short-term speculation. We expect mixed-use developments, experiential retail and well-planned commercial destinations to gain traction. The focus will increasingly be on creating integrated ecosystems that combine retail, dining, entertainment and business uses, thereby supporting both occupier demand and long-term investment value."
With experience becoming a central component of retail performance, developers and retailers are also placing greater emphasis on the elements that drive sustained footfall and repeat consumer engagement.
Ajendra Singh, Vice President (Sales and Marketing), Spectrum Metro, said, "Clearly, there is a trend emerging within the retail real estate industry, whereby retailers and consumers are not satisfied by mere retail opportunities but rather want an experience that adds value to their visit. In the second half of 2026, having a good catchment area, ease of access, good tenant mix, entertainment, and food and beverage options will still be important factors for creating consistent footfall and good retail performance."
Overall, H2 2026 is expected to favour commercial assets that combine strategic location, quality infrastructure, sustainability and strong demand fundamentals, with GCC growth and evolving consumer and occupier preferences continuing to shape the market.
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