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Norvane Capital Partners

We don't sell real estate.We advise on it.

NCP helps companies find the right office space and helps investors identify the right assets, across India's most active markets.

Quarterly research · Q1 2026

India Office
Market Report.

Quarterly intelligence across India's eight primary office markets. Absorption trends, vacancy movement, rental trajectory, and sector-level demand, compiled from verified industry data to inform both occupier and investor decisions.

City Performance Q1 2026

Hyderabad

2.9
Q1 ’25
1.7
Q2 ’25
2.9
Q3 ’25
4.2
Q4 ’25
3.6
Q1 ’26
1.8
Q2 ’26
Leasing
1.8 MSF · Q2 ’26
Rental
+11.9% YoY
H1 ’26 leasing
5.4 MSF · +17.6% YoY
New Supply
~1.3 MSF · Q2 ’26
Net absorption H1 ’26
5.0 MSF

Bengaluru

4.3
Q1 ’25
7.5
Q2 ’25
3.0
Q3 ’25
9.3
Q4 ’25
5.3
Q1 ’26
4.1
Q2 ’26
Leasing
4.1 MSF · Q2 ’26
Rental
+5.4% YoY
H1 ’26 leasing
9.4 MSF · −20.5% YoY
New Supply
~5.8 MSF · Q2 ’26

Delhi NCR

4.2
Q1 ’25
4.2
Q2 ’25
4.6
Q3 ’25
4.4
Q4 ’25
3.0
Q1 ’26
3.6
Q2 ’26
Leasing
3.6 MSF · Q2 ’26
Rental
+7.7% YoY
H1 ’26 leasing
6.6 MSF · −21.2% YoY
New Supply
~1.4 MSF · Q2 ’26
Net absorption H1 ’26
3.5 MSF

Mumbai

2.7
Q1 ’25
2.3
Q2 ’25
2.4
Q3 ’25
4.2
Q4 ’25
4.2
Q1 ’26
1.7
Q2 ’26
Leasing
1.7 MSF · Q2 ’26
Rental
+3.4% YoY
H1 ’26 leasing
5.9 MSF · +17.8% YoY
New Supply
Not qualified
Net absorption H1 ’26
2.9 MSF

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Complete city-level data across 8 markets, covering vacancy, rents, GCC demand, and NCP’s advisory insights.

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Our story

Built for decisions that matter.

Verified buildings
350
Sq ft advised
~5M
Cities covered
6

India's commercial real estate market has moved beyond transactions. Today, the office you choose defines your talent strategy. The asset you acquire shapes your portfolio for a decade. These are decisions that demand independent expertise, not a sales pitch. That's the firm NCP was built to be.

About NCP
Investment advisory

Assets selected
with discipline.

Commercial real estate assets evaluated for income certainty, tenant quality, and long-term capital appreciation. Each opportunity is independently assessed and presented with full market context.

What we do

Seven service lines.
One advisory philosophy.

Independent advisory for occupiers, investors, and enterprises from a single desk to a multi-city portfolio, from a managed office to a greenfield investment.

We help investors identify, evaluate, and acquire high-potential real estate opportunities across India. From market research and due diligence to financial analysis and deal structuring, we guide you toward investments built for long-term value. Commercial and land opportunities.

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Real estate investment

Strategic advisory for office, retail, and industrial spaces. Market analysis, site selection, and lease negotiation for optimal outcomes.

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Commercial real estate

End-to-end managed office solutions with flexible lease terms, fully furnished spaces, and operational support for businesses of all sizes.

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Managed space

Advisory across every major coworking operator in India. We help you compare, negotiate, and onboard with access to inventory you won't find on listing platforms. Hot desks, private cabins, enterprise floors.

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Coworking space

Comprehensive support for Global Capability Centers — site selection, regulatory compliance, talent acquisition, and operational setup.

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GCC setup advisory

Strategic land acquisition advisory for development projects. Zoning analysis, feasibility studies, and investment planning for optimal land use.

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Land investment

Design, fit-out, and delivery advisory for workplace projects — from space planning and vendor coordination to handover.

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Design & build
Insights

Research beyond
the headlines.

Every NCP insight is backed by extensive research, proprietary intelligence systems, and analysis of multiple market sources. We go beyond what the market is saying to uncover the signals, trends, and opportunities that actually matter.

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15 minutes.
Zero obligation.

Tell us what you're thinking — an office move, an investment thesis, a market question. We'll structure a clear path forward in a single call. No pitch. No pressure.