Gurgaon Office Market Sees Exodus as Rental Costs Soar
Gurgaon, once the favored locale for office rentals, has experienced a substantial surge in rental costs over recent months. This sharp increase has prompted numerous companies to contemplate relocating their operations to more economically viable cities. Even existing lease agreements, often including lock-in periods, haven't deterred companies from making the move.
Furnished Office Spaces Witness Increased Demand
One of the factors driving this relocation trend is the availability of fully furnished office spaces in cities like Delhi and other major urban centers across the country at significantly reduced rates—often as much as 50% less than what companies were paying in Gurgaon. This cost advantage has made furnished offices an increasingly attractive option for businesses, particularly those seeking affordable alternatives to more traditional office spaces.
Companies are increasingly demonstrating a preference for setting up their offices in already furnished spaces, rather than incurring the expense and effort of outfitting bare commercial properties. This has further fueled the growing demand for furnished office spaces in Delhi and beyond.