New Delhi, June 02, 2019: Real Estate Regulatory Act (RERA) as expected acted as a game changer in the Indian commercial real estate sector with all stakeholders benefitting from a win-win situation. The various stakeholders of commercial real estate are typically the developer, retail investor and office occupiers. For the developer, it would mean more compliance, making company and project-related details accessible to both the government as well as end users.
For the start-ups in the sector, RERA will bring in the much-needed transparency and the regulatory framework that would offer an opportunity to do a fair comparison between projects and choose the projects wisely.
New sectors such as e-commerce, logistics and start-ups are emerging as major drivers for the commercial real estate besides the IT and ITES companies which have traditionally driven office space demand in the past.
Thanks to the more investment in infrastructure for both tier I and tier-II cities which are driving demand for office spaces in coming years.
Introduction of RERA has added up to the confidence of investors. Even rapidly growing co-working space too will get a boost from the Act as start-ups which are seeking offices for small teams and they will have better access to the facilities. All thanks to increased transparency in the functioning of the industry.
The year 2019 is the election year and it is expected that the newly elected government will provide an opportunity to the developers to remain focus on selling existing inventories. The year will also help in organic growth of the market via consolidation with GST and RERA in place. The recent growth in co-working spaces, warehousing and industrial growth would also add up to the increasing demand for asset classes.
According to Mr. Shouvik Mandal, CEO, Apeejay Real Estate, “Every business is driven by the economic growth of the country and the growth is independent of any political parties. Since our economy is fundamental in nature, commercial real estate market will continue to grow in coming future.”
“We at Apeejay Real Estate own the best quality commercial property, logistics & industrial parks and business centres. We own and operate commercial, residential, education, mixed-use, fully furnished serviced offices, co-working spaces, service apartments, warehousing and industrial developments,” he adds.
The latest report of JLL reads, “Economic forecasts paint a positive story. The RBI survey of professional forecasters indicates that GDP is likely to grow minimum at 7.4% and is expected to accelerate further by 20 basis points in 2019-20 on the back of support from private consumption and investment.
Office markets, for instance, will witness increased absorption in the suburbs of key cities and this will be a major contributor to their future growth. Increasing participation from institutional investors, as well as expected REIT listings will also act as drivers.”
Apeejay Real Estate provides a platform ranging from a start-up to large scale business houses with the cutting edge contemporary design & aesthetics, environment friendly construction, highest levels of safety standards and luxurious and modern amenities.
Gradually we have spread our footprints to over 6 states of India managing a diverse portfolio of commercial, residential, educational, hotels, spas, restaurants, mixed use, fully furnished serviced offices and service apartments, warehousing and industrial space.
Recognised for its quality control Apeejay Real Estate has a keen eye for details and aesthetics and in our constant efforts we keep abreast of the latest developments in the construction business. Apeejay Real Estate has set its own benchmark to remain at top of the field.
Corporate Comm India(CCI Newswire)
