Rising trend of fractional investment and the boost given to start-ups is expected to drive the demand for India commercial real estate market in the forecast period.
According to TechSci Research report, “India Commercial Real Estate Market By Type (New Construction, and Resale) By Category (Shopping Centres and Malls, Medical & Educational Buildings, Hotels & Offices and Others) By Mode (Online & Offline), By Region, Company Forecast & Opportunities, FY2027”, The India commercial real estate market is expected to witness steady growth for the next five years. The growing demand for applications including retail, e-commerce and consulting, IT solutions in the country to cater to the needs of the various end-user industries are creating the requirements to rent or own the official spaces. The development of the IT industry owing to the growing digitalization trend across the country and the growing adoption of advanced technologies such as artificial intelligence, the internet of things, data analytics is expected to pave the way for market growth. The high demand for co-working spaces from start-ups as well as large organizations is contributing to the growth of the commercial real estate market. The high scope for the development of the retail sector to boost the products from the local as well as MNCs are expected to create lucrative opportunities for the commercial real estate market growth.
Growth in the construction of shopping malls and conferences to cater to the different needs of the people in a single place is expected to influence the growth of the commercial real estate market.
The presence of supportive initiatives and the expected rebound of the GDP in the county are expected to foster the growth of the commercial real estate market. Due to the presence of affordable labor and land coupled with the ongoing infrastructural development projects, commercial real estate is expected to witness growth in the next five years. Leading authorities are encouraging foreign direct investments and ease in the process of construction and other formalities are expected to attract the plethora of multinational companies to invest in India thereby is expected to influence the market growth. With the increase in the growth of small businesses due to the presence of supportive policies and the presence of entrepreneurial ship among the people the commercial real estate business is expected to witness growth in the forecast period.
Due to the ongoing pandemic COVID-19, the lockdown was imposed all over the country. A complete shutdown was observed, and people started practicing social distancing and started following the precautionary guidelines. Imposition of strict regulations and policies by leading authorities, the business had to suffer huge losses. People stopped spending on non-essential things which adversely affected the demand of the commercial real estate market. The adoption of online channels for online payments and purchase property through the online sector to avoid getting infected with the coronavirus is expected to boost the growth of the commercial real estate market in the next five years.
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India commercial real estate market is segmented into type, category, mode, regional distribution, and company. Based on the mode, the market can be bifurcated into online & offline. The online segment is expected two witness growth in the forecast period, FY2023-FY2027. Due to the ease of convenience of shopping online and the presence of lucrative offers and discounts offered by the market players is the driving factor for the high demand of the commercial real estate market.
Sunteck Realty Ltd., Omaxe Ltd., Godrej Properties Ltd., Phoenix Mills Ltd., Oberoi Realty Ltd., Brigade Enterprises Ltd., NBCC India Ltd., Prestige Estates Projects Ltd., Indiabulls Real Estate Ltd., DLF Ltd. are the leading players operating in India commercial real estate market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several commercial real estate manufacturers are coming up with their technologically advanced offerings.
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“Commercial real estate is adopting modern technologies to advance the existing infrastructure and reduce the dependency on manual labor is expected to contribute to market growth. The commercial real estate industry uses 3D technology, smart wearables, focused drones, virtual reality, and radio frequency identification technology, amongst others to enhance the consumer experience. Construction companies are using innovative technologies and applications and the facility to provide the virtual tour to consumers is expected to propel the commercial real estate market growth till FY2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Commercial Real Estate Market By Type (New Construction, and Resale) By Category (Shopping Centres and Malls, Medical & Educational Buildings, Hotels & Offices and Others) By Mode (Online & Offline), By Region, Company Forecast & Opportunities, FY2027” has evaluated the future growth potential of India commercial real estate market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India commercial real estate market.
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