Commercial real estate plays a very important role in the development of the nation. In fact it is one of the indicators to judge the growth of the nation. The more commercial real estate comes up, the more blue collar jobs it will offer. Unlike the housing sector, which is witnessing a downward demand in spite on government intervention with offers of tax sops, friendly policies and regulations and tailor made home loans; the commercial real estate is on an upswing. “The Government’s policies and measures with regards to real estate are largely about rescuing the ailing housing sector. Commercial real estate, on the other hand, is already doing very well and does not really require any ‘damage control’ interventions. This is not to say that office real estate developers do not have their own issues, but these are not comparable to the ones being experienced in the housing sector,” says Anuj Puri, Chairman, ANAROCK Property Consultants. As per ANAROCK data, approximately 11 million square feet of office space was absorbed in Q1 2019, led by Bengaluru and followed by Mumbai, Chennai, and Hyderabad. Supply addition in Q1 2019 rose by nearly 11 per cent on a yearly basis to touch nearly 7.5 million sq. ft. in the first quarter across the top seven cities.
This story is from the November 2019 edition of Epc World.
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This story is from the November 2019 edition of Epc World.
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