[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 majority of Indian corporates expect an increase in the quantum of their real estate
space requirement over the next three years amidst the ongoing pandemic, as per a global
survey by Knight Frank.
According to a global survey by Knight Frank, a real estate consulting agency, about 70
percent of Indian corporate respondents expect a rise in their real estate portfolio over the
next three years. This is despite three-fourths of the respondents citing that real
estate-related cost reduction targets have increased since the pandemic’s onset.
Around 67 percent of the respondents expect the ongoing COVID-19 pandemic to influence
the direction of their medium-term real estate strategy. Nearly half of the Indian participants
plan to improve workplace amenities available to staff members after the pandemic.
Shishir Baijal, Chairman and Managing Director, Knight Frank – India, has shared,
“Sentiments amongst corporate occupiers is robust as most expect their portfolio to increase
in the coming times. While the pandemic has created an environment of uncertainty and
doubt, the vaccination programs’ rollout has brought about hope for the real estate sector’s
future. There is also a visible increase in the demand for sustainable real estate as many
companies have set net-zero emission targets.”
The most significant frustrations of Indian occupiers with their landlords are a lack of
innovation in service or product offering and lack of flexibility. The same highlights the
need for landlords to invest in property management and tenant services as well as in
Nevertheless, just over 40 percent of Indian respondents have reported an increase in
communication with their landlord over the pandemic’s course, providing an opportunity
to landlords and tenants to establish a more partnership-oriented and collaborative
relationship for the long term.
Read more at: https://www.99acres.com/articles/commercial-real-estate-demand-likely-to-increase-over-the-next-3-years-report-nid.html
Have a nice day