Trends to watch out for real estate in the commercial space scenario
In the country commercial real estate has been doing really well. The absorption of all the segments of real estate in commercial space namely office building, retail spaces, warehouses and hospitality have been fairly high in the recent few years. We will see that there will be an increasing trend towards cost efficiencies as well as making the property safe and secured. Let’s see some of the latest key trends:
Corporates going for longer leases
With the increase in property rental trends, companies have started to sign longer lease than the usual nine years. Corporates are trying to negotiate for the long year of the lease in order to save themselves from rental hikes for a longer duration.
Pre-committing office spaces
There are many MNCs that are going in for pre-commitment in the Indian scenario. This trend is going to intensify more in the coming years because there is a paucity of quality office spaces. A deal with pre-commitment is the one where the developer has leased the building to a company when it is under construction.
The real estate developers are increasingly using technology to make an efficient building for the occupiers. Apart from these in coming years developers will make use of automation and robotics.
With rising awareness on environment-related aspects in the society, now developers are adopting various measures for environmental protection, not just in construction but daily usage of the building. These measures include energy saving smart lightning, rainwater harvesting, water conservation, garbage recycling units etc.
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