India Commercial Real Estate Market to witness Steady Growth through FY2027
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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