By Shravan Gupta.
The office leasing trends have grown significantly in recent months. With office goers opting to WFH or in a hybrid manner. This has boosted the demand for office leasing space and propelled the sector forward.
The retail realty segment changed in 2024. India is witnessing steady growth and growing demand in the office leasing segment. It is a common practice to lease an office if you have fewer staff or a company which works on the hybrid model. Experts believe office leasing has grown nearly by 50%. And most cities have one or two office leasing setups. This trend is slowly catching up in tier 2 and 3 cities as well.
It’s difficult to pinpoint a single factor responsible for this burgeoning demand in the sector. Rather it has been made possible due to several developments in the realty market. Here are some insights into this emerging yet vibrant sector.
Rising domestic demand: The working model has changed completely. The WFH, Hybrid and Remote cultures have heightened the demand for office leasing. This is not limited solely to cities like Mumbai and Delhi but is also gaining prominence in cities like Pune, Indore and Hyderabad.
Today People prefer to lease an office space with amenities like conference rooms for a limited time frame. Since the workload is less, this works for a Hybrid or remote work culture. Shravan Gupta, MGF Group believe this has boosted the rental income of office leasing. It is an encouraging sign signifying the Indian Economy’s growth.
Policy initiatives: Similarly, government schemes and policies too have popularised the office leasing culture. There are incentives for developers to build co-working spaces shaping the future of real estate. It attracts investors to invest more in such projects and reap benefits like tax exemption, less capital gain tax and much more.
Enhanced infrastructure: A country’s infrastructure plays a vital role in boosting office sales. Most Indian cities have separate office buildings for lease. And is very much in demand and attracting new clients and investors. It has been made possible due to improved road network, connectivity and enlarged demand for office spaces.
Shravan Gupta, MGF Group believes this trend will grow more in the coming months and attract new investors.
The Indian retail real estate is on the path of recovery. Experts like Shravan Gupta, MGF Group believe by the end of 2024 the demand for office leasing will reach its pinnacle. The future is bright for India’s office market driven by factors like an uptick in demand and a quality supply chain. But hugely, the robust domestic demand will drive the office leasing segment.
Website: https://www.shravangupta.com
