The year 2024 is going to redefine the Indian commercial estate. From the business angle it promises to be the breakthrough year for the real estate sector. The demand for commercial real estate is at an all-time high. And it’s drawing more investors to invest in the market here. There are many reasons for this change. But the most essential is attributed to the rise in India’s global positioning. India is seen as an emerging and a vibrant market for opening offices here.
Shravan Gupta, MGF Group says the trend of core and flex real estate is on the rise. likewise, experts too feel this will elevate the Indian real estate market to new heights.
Factors responsible for commercial real estate boom:
Our Rising GDP:
The value of Indian economy is on the rise. And our ranking in the top 5 economies of the world makes a major difference amongst business investors. The perception that India is on the positive growth has impacted the commercial real estate segment. Experts feel this will draw Newer MNC’s to open the offices in cities like Delhi, Mumbai, Bengaluru and Hyderabad. Shravan Gupta, MGF Group believes this has boosted the commercial real estate segment by more than 50%.
Today more new offices are currently under construction in cities like Mumbai and Bengaluru. This has been made possible due to rising investment from HNI’S and business houses like Godrej.
New office buildings are on the rise:
In the current scenario, more new office constructions are on the rise. They are made according to the demand from the MNC’S. This is a profitable scenario for the builders like Shravan Gupta, MGF Group. Most office buildings are constructed with large open spaces and private spaces. The beauty of such building is that one can gain a good health and work in a healthy ambiance too.
The rise of core and flex model:
This is the latest trend in the flexible workspace culture. And most builders are encashing on this trend. Shravan Gupta, MGF Group says most office buildings now are built with private offices, a dedicated lounge and meeting room. And can accommodate about small and mid-level staff. This is preferred by investors and MNC’S as it offers proper business ambiance and enhances productivity too.
The real beauty of this core and flex model lies in its affordability factor. It is now possible to buy or rent office space under this trend according to one’s need.
It is beneficial for the builders too as they can earn more by selling smaller office units than a whole building. And can offer it to MNC’S for the long and short term lease. Hence, 2024 is going to be the groundbreaking year for real estate.
Conclusion:
2024 is going to transform the office leasing and commercial real estate. The culture of mid-sized offices in the large commercial complexes is on the rise. We are seeing the rise of more such buildings in cities like Mumbai, Hyderabad and Lucknow. Shravan Gupta, MGF Group believe this trend is here to stay and dominate the Indian real estate segment.
