From the lobby to the desk, a CB Insights report shows how startups are offering solutions to keep the coronavirus out of the office building.
New residential launches and sales may witness improvement; office leasing may also see increased activity
Millennials pined for the workplace more than other age groups. Some said they could not afford proper accommodation and facilities that are needed to work efficiently from home
Cities like Delhi NCR and Bengaluru saw negative absorption which also pushed the overall net absorption downwards,
Work from home may gain strength, but likely to account only 10-15 percent of the workforce.
Masks or masks-and-gloves, along with face shields are likely to become the new pandemic-proofed office look, as is the ubiquitous identity-and-access cards
Plans to take up 1.5 lakh square feet of office space in Bengaluru as it expands Paytm Mall, Paytm Money, Paytm Travel and other business units
Organisations are doing everything possible to ensure the health and safety of their employees.
Some experts feel commercial lease rentals may come under pressure in a few locations and may witness a decline of at least 20 percent.
Commercial footprint of many companies may get reduced by as much as 20-25 percent due to the emphasis on work from home
Rent collections from office occupiers despite COVID remained strong at 92 percent for the month of April 2020, said CEO Michael Holland.
Despite the positives, working from home comes with a baggage of drawbacks.
Office design is sure to undergo a change after the pandemic
Ashish Goenka, Director, Redbrick Offices, said 32 percent of its clients have chosen to work from home
Bengaluru, followed by Hyderabad, Delhi NCR and Mumbai, lead annual leasing, together accounting for almost 75% of the overall space take-up.
Apart from tier-I cities, flexible space operators are expected to compete for high-quality large-sized spaces, increasingly pre-leasing space in quality, investment-grade developments or look for semi-investment and second-generation spaces.
Embassy Office Parks REIT, a joint venture between global investment firm Blackstone and realty firm Embassy Group, had raised Rs 4,750 cr in April this year through the launch of India's first Real Estate Investment Trust.
Currently, the top seven cities have close to 550 mn sq ft Grade A office supply - of which 310-320 mn sq ft is REITable as of now, the report said.
Hyderabad tops the chart in net absorption and new completions of office space, registering a 36 percent and 44 percent market share respectively.
Noida-based Bhutani Infra intends delivering close to 15 million sq ft of commercial space worth Rs 4,500 crore by 2023
The company hopes to raise investment worth $30 million for expansion. Going forward, 10 to 15 percent of its new supply would be located in malls, warehouses and institutions.
While office demand is expected to grow, co-working and warehousing segments may see renewed interest
As per data made available by real estate consultants, total office absorption across the top 7 cities is geared to cross 39 mn sq ft in 2018
Among other Indian cities, Mumbai is ranked 14th with an average occupancy cost of $96
Rising demand and lowering vacancies in premium Grade A buildings led office rental values to rise between 9 percent and 32 percent, says Colliers Research