--- title: "Delhi-NCR vs Singapore: Class A office comparison" description: "Side-by-side Class A office comparison for Delhi-NCR and Singapore — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/delhi-ncr-vs-singapore pageType: comparison lastUpdated: 2026-04-15T00:00:00.000Z license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)." --- > Delhi-NCR ($19/sqft, 12.6% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Delhi-NCR on rent and tax and Singapore on talent depth. ## TL;DR - Class A rent: Delhi-NCR $19/sqft vs Singapore $102/sqft. - Vacancy: Delhi-NCR 12.6% vs Singapore 5.4%. - Talent index: Delhi-NCR 84 vs Singapore 92. - Corporate tax: Delhi-NCR 25.17% vs Singapore 17%. - Premium flex/seat/month: Delhi-NCR $320 vs Singapore $1,180. # Delhi-NCR vs Singapore: Class A office comparison **Delhi-NCR ($19/sqft, 12.6% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Delhi-NCR on rent and tax and Singapore on talent depth.** ## TL;DR - [Class A](/glossary/class-a) rent: Delhi-NCR $19/sqft vs Singapore $102/sqft. - Vacancy: Delhi-NCR 12.6% vs Singapore 5.4%. - Talent index: Delhi-NCR 84 vs Singapore 92. - Corporate tax: Delhi-NCR 25.17% vs Singapore 17%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Delhi-NCR $320 vs Singapore $1,180. ## Market data side-by-side | Metric | Delhi-NCR | Singapore| | Region | APAC | APAC| | Country | India | Singapore| | Class A rent (USD/sqft/yr) | $19 | $102| | Class A rent (local) | 130 INR | 11.5 SGD| | Vacancy | 12.6% | 5.4%| | Trend | rising | rising| | Prime yield | 8.2% | 3.6%| | Premium flex / seat / month (USD) | $320 | $1,180| | Submarkets covered | 5 | 6| | Corporate tax | 25.17% | 17%| ## Lease norms | Metric | Delhi-NCR | Singapore| | Typical term | 9 yrs | 4 yrs| | Typical rent-free | 6 mos | 6 mos| | Lease norms | Net leases. 9-year terms with 3-year lock-ins. Free rent of 4-9 months and TI of INR 1,500-3,000/sqft typical. | Singapore leases are typically 3-5 years, gross-rent based with the landlord covering most operating expenses inside the rent. Rent-free of 4-9 months on a 5-year term is standard. Rent reviews on renewal are open-market. Bank guarantees of 3-6 months are routine. Reinstatement at lease-end is contractual and usually significant — budget for it.| | Tax note | 22% base corporate income tax plus surcharges and cess for an effective rate of 25.17%. SEZ benefits available in select Gurugram and Noida parks. State stamp duty considerations apply across NCR jurisdictions. | Headline corporate tax of 17%, with a partial tax exemption for the first SGD 200,000 of chargeable income. A network of double-tax treaties and the Singapore Variable Capital Company (VCC) regime make Singapore particularly attractive for fund managers and family offices.| ## Talent | Metric | Delhi-NCR | Singapore| | Talent index (0–100) | 84 | 92| | Talent note | Deepest BFSI, consulting, and government affairs talent in India. Strong feed from IIT Delhi, Delhi University, JNU, and IIM Lucknow. English-fluent professional base. | Premium APAC talent hub. Average all-in compensation indexes 92 vs. New York's 100.| ## Transit & commute **Delhi-NCR:** Delhi Metro (12 lines + Aqua Line in Noida + Rapid Metro Gurugram). Indira Gandhi International Airport (DEL) connected via Airport Express. Bus, RRTS Rapid Rail (Delhi-Meerut, Delhi-Alwar) under [expansion](/topics/cross-border-expansion). **Singapore:** The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment. ## Top submarkets — Delhi-NCR - [**Connaught Place / Lutyens Delhi**](/cities/delhi-ncr/connaught-place-delhi) — [trophy tier](/topics/trophy-asset-selection) · ₹220/sqft/mo · ≈ $31.7 PSF/yr USD - [**Golf Course Road & Extension**](/cities/delhi-ncr/golf-course-road-gurugram) — trophy tier · ₹155/sqft/mo · ≈ $22.3 PSF/yr USD - [**Cyber City Gurugram**](/cities/delhi-ncr/cyber-city-gurugram) — trophy tier · ₹145/sqft/mo · ≈ $20.9 PSF/yr USD ## Top submarkets — Singapore - [**Marina Bay**](/cities/singapore/marina-bay) — trophy tier · S$14.5/sqft/mo · ≈ $129 PSF/yr USD - [**Raffles Place**](/cities/singapore/raffles-place) — trophy tier · S$13.2/sqft/mo · ≈ $117 PSF/yr USD - [**Shenton Way & Tanjong Pagar**](/cities/singapore/shenton-way-tanjong-pagar) — prime tier · S$11.5/sqft/mo · ≈ $102 PSF/yr USD ## Decision criteria ### Pick by cost Delhi-NCR is the cheaper Class A market on a USD basis. ### Pick by talent depth Singapore has the deeper talent index (92/100 vs 84/100). ### Pick by tax Singapore has the lower headline corporate tax (17% vs 25.17%). Local incentives can change the effective rate materially. ### Pick by lease optionality Delhi-NCR typical term is 9 years with 6 months free; Singapore runs 4 years with 6 months free. ### Pick by transit Delhi-NCR: Delhi Metro (12 lines + Aqua Line in Noida + Rapid Metro Gurugram). Indira Gandhi International Airport (DEL) connected via Airport Express. Bus, RRTS Rapid Rail (Delhi-Meerut, Delhi-Alwar) under expansion. Singapore: The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment. ## Run a 4-city comparison Score Delhi-NCR, Singapore and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD. [**Run a 4-city comparison →**](/tools/city-comparator) ## Frequently asked questions ****Is Class A office cheaper in Delhi-NCR or Singapore?**** : Delhi-NCR is cheaper on a USD basis: $19/sqft vs $102/sqft. ****Which has better talent depth, Delhi-NCR or Singapore?**** : Singapore indexes higher on talent depth (92 vs 84). ****Which has more sublease availability, Delhi-NCR or Singapore?**** : Delhi-NCR carries higher vacancy (12.6% vs 5.4%) and therefore typically more [sublease](/glossary/sublease) overhang. ****What lease term should I expect in Delhi-NCR vs Singapore?**** : Delhi-NCR typical term is 9 years with 6 months rent-free; Singapore typical term is 4 years with 6 months rent-free. ****How does transit and commuter access compare?**** : Delhi-NCR: Delhi Metro (12 lines + Aqua Line in Noida + Rapid Metro Gurugram). Indira Gandhi International Airport (DEL) connected via Airport Express. Bus, RRTS Rapid Rail (Delhi-Meerut, Delhi-Alwar) under expansion. Singapore: The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment. ## Editorial provenance Reviewed by [**Kenji Watanabe**](/about/authors/kenji-watanabe) — APAC contributing editor. Last updated 2026-04-15. See our [methodology](/about/methodology) and [editorial standards](/about/editorial-standards). ### Primary sources for this page - [CBRE Marketview reports](https://www.cbre.com/insights) — CBRE - [JLL Office Insight](https://www.jll.com/en/trends-and-insights) — JLL - [Cushman & Wakefield Marketbeat](https://www.cushmanwakefield.com/en/insights) — Cushman & Wakefield - [Savills World Research](https://www.savills.com/research_articles/) — Savills - [Colliers Global Office Outlook](https://www.colliers.com/en/research) — Colliers [Full sources index](/about/sources) · [Submit a correction](/about/corrections) --- Citation: Source: Class A Atlas (https://classa.info/compare/delhi-ncr-vs-singapore), updated 2026-04-15T00:00:00.000Z.