Please Wait.....
Report
India Office Real Estate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The Indian office real estate market is expected to grow steadily in 2022, as the country is returning to normalcy after the COVID-19 outbreak.
The second wave impacted the market sentiments, with several occupiers taking a cautious approach to ongoing business uncertainties. However, several deals negotiated before 2021 were completed, and the vaccination drive is assisting corporations in gaining a better understanding of return-to-work dates.
Occupiers are likely to focus more on integrating traditional leased spaces, remote working options, and flexible spaces within the real estate portfolios to develop a hybrid workplace model. The plan to decentralize the workplace and provide more locations to satisfy the needs of a more mobile workforce is anticipated to be aimed at cost and portfolio optimization.
India Office Real Estate Market Trends
Demand for Office Space Increased in 2021
Gross leasing declined in Q2 2021 compared to Q1 2021 due to the second wave of COVID-19 and subsequent regulations in all major cities. However, on an annual basis, office leasing grew by 55.1% in Q2 2021 compared to Q2 2020.
Demand for space is increasing across IT, healthcare, e-commerce, and logistics sectors. To make the market more accessible to small and retail investors, the Securities and Exchange Board of India (SEBI) reduced the minimum application value for Real Estate Investment Trusts (REITs) from INR 50,000 (USD 705.21) to INR 10,000-15,000 (USD 141.04 - USD 211.56) in July 2021. According to the Investment Information and Credit Rating Agency of India Limited (ICRA), Indian companies are likely to raise more than INR 3.5 trillion (USD 48 billion) through infrastructure and real estate investment trusts in 2022, compared to USD 29 billion raised in 2020.
Foreign Investments Plays a Major Role in the Office Real Estate Market
Growth in the business process management/information technology (BPM/IT), banking, financial services, and insurance (BFSI), consulting, and manufacturing industries has fueled the office market. Due to the vast potential and simplified FDI rules, many new companies are considering entering the Indian market. By 2022, the absorption of Grade-A office space is estimated to exceed 700 million sq. ft, with Delhi-NCR accounting for most of this demand.
Bengaluru was estimated to record large agreements of 100,000 sq. ft. in 2021, accounting for a significant amount of projected leasing. It is expected to account for a 20-30% increase in absorption, while supply is expected to grow steadily by 20-30% Y-o-Y. Strong development in e-commerce and manufacturing and increased demand in emerging tier I and tier II cities are estimated to push absorption of industrial and warehousing space up by 83% to 47.7 million sq. ft in 2021. The office category drew 71% of all private equity (PE) investments in real estate in Q4 FY21, followed by retail (15%), residential (7%), and warehousing (7%).
India Office Real Estate Market Competitor Analysis
The Indian office real estate market is highly competitive, as the sector's domestic and foreign participants produced a competitive environment. There are many opportunities for small and medium companies in tier 2 cities. Some of the office real estate developers in the country include Indiabulls Real Estate, DLF Ltd, Prestige Estate Projects Ltd, Supertech Limited, and Oberoi Realty.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Report
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview (Current Economic and Real Estate Market Scenario)
4.2 Technological Innovations in the Office Real Estate Market
4.3 Government Regulations and Initiatives in the Industry
4.4 Insights on Rental Yields in the Office Real Estate Segment
4.5 Insights on the Key Office Real Estate Industry Metrics (Supply, Rentals, Prices, Occupancy(%)/Vacancy (%))
4.6 Insights on Office Real Estate Construction Cost
4.7 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers/Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
5.5 Industry Value Chain Analysis
6 MARKET SEGMENTATION
6.1 By Major Cities
6.1.1 Bengaluru
6.1.2 Hyderabad
6.1.3 Mumbai
6.1.4 Delhi NCR
6.1.5 Pune
6.1.6 Chennai
6.1.7 Kolkata
6.1.8 Ahmedabad
6.1.9 Rest of India
6.2 By Sector
6.2.1 Information Technology (IT and ITES)
6.2.2 Manufacturing
6.2.3 BFSI (Banking, Financial Services, and Insurance)
6.2.4 Consulting
6.2.5 Co-working
6.2.6 Other Services
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Indiabulls Real Estate
7.1.2 DLF Limited
7.1.3 Prestige Estate Projects Ltd
7.1.4 Supertech Limited
7.1.5 Oberoi Realty
7.1.6 HDIL Ltd
7.1.7 Godrej Properties
7.1.8 Brigade Group
7.1.9 Sunteck Realty
7.1.10 Phoenix Mills
7.1.11 Unitech Real Estate Pvt Ltd
7.1.12 Omaxe Ltd*
7.2 *List Not Exhaustive
8 RECENT DEVELOPMENTS
9 APPENDIX
9.1 Insights on Capital Flows (Investments in the Office Real Estate Market)
9.2 Pricing Trend Analysis for New Office Building Construction in India
10 DISCLAIMER
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security