Professional experience is in high demand as the commercial real estate market expands

Posted on: October 01, 2022
How technology is transforming Indian real estateProfessional experience is in high demand as the commercial real estate market expands

"As the country's investment boom continues, there is a heightened need for cutting-edge real estate developments that are technically and operationally sound." "The advantages will surpass the expenses invested since it may save the shareholder significant money, time, and legal difficulties," says a Managing Director, Technical Due Diligence.

With significant investor interest in commercial real estate and a focus on ESG, office builders and investors are seeking professional knowledge to analyse their prospective projects and solutions to upgrade their current ageing buildings.

In the next 2-3 years, the top six cities (Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai, and Pune) will witness a robust pipeline of office buildings, with around 180 million square feet of Grade-A office stock in different stages of development. At the same time, these top cities have Grade-A office buildings of about 120 million square feet that can be renovated and are more than 15 years old. According to the most recent report.

"As the country's investment boom continues, there is a heightened need for cutting-edge real estate developments that are technically and operationally sound." "The advantages will surpass the expenses invested since it may save the shareholder significant money, time, and legal difficulties," says a Managing Director, Technical Due Diligence.

Due diligence on property costs less than 0.3% of the total project cost. It can assist developers and investors in risk-proof their future ventures as they expand into new locations and asset classes. Upgrading historic office buildings will help them get more traction with occupiers, boosting the value of the structure and extending its lifespan.

"It guarantees that a property is created in accordance with established standards at a time when there is a greater emphasis on factors of sustainability (ESG) and health and wellbeing." The evaluation also gives a roadmap to eliminate risks and optimise a project's potential profitability," said a Chief Executive Officer and Co-Founder. They stated that the company refurbishes obsolete assets for fractional ownership.

According to the research, real estate due diligence can snag a piece of the $300 million square foot pie of existing and new commercial office buildings.

"Since Covid-19, developers and investors have grown more concerned about the project's efficiency." It has become critical for them to understand the risks and benefits of every potential project. "By making a minimal investment, stakeholders may risk-proof their projects and optimise their returns on investments," says a Senior Director, Research.

Investments in commercial real estate in India have expanded, with growing interest from overseas investors. Compared to the previous five-year period, foreign capital flows in real estate increased thrice to $24.0 billion in the last five years.