Author: Cityinfo Services

Renewing a lease can be both stressful and complicated. But before you commit to another term (or a few months/ years) in your current space, it’s crucial to take a proactive approach and ensure you’re getting the best value for your money. Remember, your space is an investment, not just an expense. Below are a few factors to consider before renewing your commercial lease.

Commercial Real Estate in India has witnessed phenomenal growth over the last two decades. Government initiatives, economic trends, globalisation and technological developments are leading to the continuous evolution of the commercial realty landscape in the country. From spreading residential catchment areas, to buzzing modern retail and F&B formats to development of premium sustainable tech parks, Indian cities are becoming popular global hubs.

New Gurugram, spanning across sectors 76–95A on both sides of NH8, has emerged as a pulsating commercial real estate hub within the National Capital Region (NCR). The city is a testament to meticulous urban planning and modern infrastructure. It boasts world-class amenities, including state-of-the-art business parks, integrated townships, and high-speed connectivity. This burgeoning area has garnered the attention of multinational corporations, SMEs, and startups seeking to establish a robust presence. The surging demand for commercial spaces, encompassing office spaces, retail outlets, and warehouses, underscores the significance of New Gurugram’s position in the region’s real estate landscape.

Bengaluru, India’s bustling tech capital thrives as a business hub due to its cosmopolitan ambiance, favorable climate, and robust economy, which attracts startups, established enterprises, and multinational corporations. Having the right office space is crucial for attracting top tech talent, fostering innovation, and building a vibrant company culture.

In the wake of transformative global events, companies are undergoing a paradigm shift in their approach to office spaces. The traditional notion of an office as a rigid, nine-to-five workspace is evolving into a dynamic, multifaceted environment. This transformation stems from the recognition that the office serves as more than just a physical location for tasks. Instead, it becomes a hub for collaboration, innovation, and nurturing company culture.

The corporate real estate sector has shown resilience through the pandemic, evolving workspace strategies and the global macro economic headwinds. 2022 witnessed a huge demand for office spaces globally inspite of hybrid and remote working. The commercial real estate segment is likely to grow substantially in 2023 as well. The main drivers of the absorption of office space are companies from a variety of industries, including IT, manufacturing, BFSI, startups, AI, etc.

The pandemic has disrupted the dynamics of the workplace globally. Most disruptions prior to Covid-19 concerned the evolution of technologies, the adaptation of emerging innovations, and the replacement of manual labour. In present times, the pandemic has completely challenged the physical construct of a work environment. While some jobs were deemed essential and continued to work in a regularised manner with several restrictions and protocols, most of the workforce was confined to the walls of their homes. Some companies struggled, the majority adapted to the new norm.

Real estate can be a complex world of it’s own and Indian commercial real estate, even more so! The easy way to navigate through through these complexities is having the right commercial property consultants by your side.

The rise of co-working office spaces in India has added to more office space options for businesses. However, a lot of companies do find themselves wondering whether a co-working space is the right option for them or a conventional office space. We’re here to guide you through the advantages of each option to help you make a well-informed decision.

Most industries across all markets have taken a hit due to the recent health pandemic. Real estate too, is no exception. While the low is temporary, it is set to leave lasting implications on the real estate industry.

As we move back to phased normalcy and businesses prepare to get back to their offices, it’s imperative to keep in mind that we are not over the health pandemic yet. We must strive to find a new normal keeping the implications of the virus and it’s spread in mind.