Top 4 commercial realty trends to watch in 2022
When it comes to commercial real estate in India, growing demand drivers are attracting considerable interest, as this is where the major money, especially international investors, is anticipated to stream in. As a result, experts are assessing the future commercial property demand drivers. This might be in terms of company or geography.
It’s difficult to think that 2021 has come and gone. However, here we are, and it’s safe to say that real estate has had a difficult year. As we approach 2022, here are several themes to keep in mind for real estate investors.
Increased demand for co-working spaces
There will be a significant rise in office reductions and a quick move to ubiquitous remote jobs by 2020. This tendency persisted in 2021, but when the vaccinations were available, people eventually went back to work. The most visible change has been the expansion of a hybrid workforce across several workplace alternatives, notably flexible offices.
Flexible workspace providers aim to expand their inventories in the next 2-3 years due to a need for worker flexibility and portfolio re-optimisation. Hub-and-space models increased financial gains, growth in the number of commercial alliances, takeover, regulation of new systems, and utilization of technology, wellness, and wellbeing are just a few of the key forces driving the adapt-to-suit workplaces industry ahead.
Another source of revenue is SCO shop-cum-office space.
The State Government’s new developed colony policy has approved the groundbreaking notion of a Shop-cum-Office (SCO) plot. Builders can offer plots wherein purchasers can build up to four levels and utilise them for commercial or retail functions under the Haryana government’s proposal. Because of these regulations, a new age of commercial SCO plots is on the rise. The SCO markets have been a spectacular success, with early investors’ cash increasing many times over in a short period. Steady investment returns, longer leases, and higher-income are just a few of the advantages available to a prudent investor.
Commercial and residential development that is environmentally beneficial and sustainable
The Indian real estate business is predicted to improve along the lines of environment, sustainability, and governance. Visibility and stakeholder participation is significantly important for investors looking to make informed company investment choices. Developers are currently putting a heavy focus on LEED, IGBC, GRIHA, and BEE certifications in construction, resulting in considerable carbon footprint reductions.
Rising demand for freehold real estate
The bulk of commercial and industrial plots are leasehold, which means they may only be utilized for a specified period, which in some states is 99 years. Municipal corporations and Housing Boards, for example, have ownership rights in this case. A freehold property owner, on the other hand, has total authority over the property. For a long time, the business and industrial community has sought the ability to own property to encourage development and borrowing. To increase the ease of doing business, industrial regulations must be created to facilitate the transition of leasehold to freehold industrial plots. The market is currently great, and additional such assets will be examined in 2022.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
