[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
The COVID-19 pandemic threw life out of gear in 2020 and the real estate sector continues
to grapple with it. It also left a mark on the workplace, flexible or otherwise. Both the
workforce and workspace underwent a change with the work-from-home option bringing
about a paradigm shift. Commercial real estate occupiers treaded through some very
uncertain times and the pandemic-led anxiety prompted lease renegotiations, rent waiver
requests and rent deferment discussions early on during the crisis.
The work-from-home concept also led to some companies looking at setting up multiple office spaces in micro-markets that cater to their existing employee demographics. This is expected to continue even after the vaccine finally sees the light of day in the country.
Going forward, companies are expected to plan their space consumption keeping in mind factors such as flexibility in lease terms, minimum capital investment, rental costs, lower commute time for employees, last-mile connectivity and social-distancing.
What this means is that even if the vaccine is introduced in the next two months, the
work-from-anywhere or the work-from-home culture is expected to continue for the
medium term, which is for about a year. One will also witness a mix of work-from-home
and work from the office.
“Going forward in the mid to long term the work-from-home will disrupt office leasing up
to 20 percent,” said Samantak Das, Chief Economist & Head of Research at JLL India,
adding the hot desking concept is here to stay but with modifications, which will include