Commercial real estate, on the whole, has projected a strong growth elevation as the rapid increase in footfall in commercial spaces and malls indicated a recession of pandemic fears. Resultantly, the trio of customer-investors-stakeholders, the driving elements of the sector, started gaining confidence and brought good days ahead.
The National Capital Region has attracted some top-quality commercial projects in recent years. Gurugram, Noida, and Greater Noida have seen the rise of many residential and commercial corridors on the back of solid metro and road connectivity, which has proliferated the rise of many commercial offerings and establishments of diverse use and types.
Another strong advantage of the commercial real estate sector has been its ability to reinvent and cater to the changing demands of consumerism. The transition is clearly reflected in the compositional nature of commercial-use buildings. Shop-cum-Offices (SCOs), Mixed-use commercial projects, IT-ITes, Malls, and High-street retail shops are cropping up in high-end areas and localities.
High-street retail is a commercial real estate market trend which proved to be a profitable investment for realtors. In the NCR markets, Gurugram has emerged as an high-street retail hub. It has witnessed an overwhelming amount of land under high-street retail projects which are in the vicinity of Dwarka Expressway and Golf Course Extension Road. These projects have registered an uptick in sales and have also emerged as investors’ favourites as they offer higher visibility and accessibility and have an urban vibe.
Another type of commercial real estate classification which has been in existence in India for more than two decades but has not still lost its charm is Malls. The reliable estimates of a significant rise in the number of malls in India in the next few years, especially NCR, have brought significant traction to the malls.
Earlier malls used to be centred on a city’s select few central hubs but as new colonies, residential sections, and sectors have considerably risen, malls are also being planned in new regions for a large consumer section who earlier has to travel long commute hours for shopping and retail needs. Gurugram’s Sector 93 and 95 are atop with new malls and high-street project launches.
