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The office sector accounted for the largest share of investment inflows during H1 2023, standing at 74%, followed by the residential sector at a distant 12%
Office values are set to plunge, sparking an "urban doom loop" and spurring a pullback in bank lending that curbs economic growth.
Offices - The best quality offices continued to have a strong demand on the local market which will determine that the request for development or refurbishment
In the latest Asia Pacific report ReThinking The Office Sector: Optimising Your Asset for a New Era mentioned that the average age of Grade A office stock across top three Indian cities of Mumbai, Bengaluru, and Delhi, is less than 10 years old and therefore less likely to need any significant retrofitting in the immediate future. However, there is an inventory of secondary stock that will require attention, particularly in non-prime locations which are facing obsolescence.
The company plans to generate a rental income of Rs 800-1,200 crore just from Bengaluru within five years. The idea is to develop about 40 msf of office space, across six cities, with an annual rental yield of Rs 3,000 crore within five years, says CEO Juggy Marwaha