NSDC picks up office space in New Delhi Aerocity on lease

MUMBAI: The National Skill Development Corporation ( NSDC), a central government body, has picked up nearly 60,000 sq ft of office space in New Delhi Aerocity on lease. The total tenure of the said lease is 9 years, including a rental reset clause for every three years, said two persons familiar with the development.

NSDC has picked up the office space in Worldmark 1, a mixed-use project of Bharti Realty. While the rentals for this transaction could not be ascertained, the ongoing rates in the vicinity are in the range of Rs 180-210 per sq ft. “The deal was concluded recently and National Skill Development Corporation has already started the fitouts in this new office. It is expected to start operations from this space over the next couple of months,” said one of the persons mentioned above.

NSDC is planning to shift to this new office that will house its headquarters by the second week of July, an NSDC spokesperson said in response to ET’s query. He also added that NSDC has one office in Delhi at Clarion Collection. The entire office will move to the new office in Aerocity. However the current office may be retained for a while for business continuity. ET’s email query to Bharti Realty remained unanswered till the time of going to press.

Given its proximity to the Delhi international airport, Millennium City and the centre of the capital, this area is shaping up as the new CBD where the Fortune 500 companies and world’s top institutions, including the IMF, operating from this area. Several Japanese companies such as Bank of Tokyo, Mitsubishi, Sumitomo, and OCS have also leased large spaces and operating from here.

The 1.4-milliion-sq-ft project Worldmark, which has 900,000 sq ft offices and balance as high-street retail, has achieved occupancy of 80% following this transaction.