Amid the work-from-home protocol within the ongoing COVID-19 pandemic, workplace markets within the nation face uncertainty, by way of occupancy and worth. However, the nation’s prime workplace sector – Delhi-NCR (nationwide capital area), Mumbai, and Bengaluru markets are anticipated to stay secure in rental values over the following 12 months. According to worldwide property guide Knight Frank, the strong restoration might be attributed to the improved transaction exercise, even amid the uncertainty across the efficiency of the workplace sector.
According to a current report titled, Asia-Pacific Prime Office Rental Index Q1 2021′ launched by Knight Frank, the Bandra Kurla Complex or BKC in Mumbai registered a significant restoration in workplace rents to damaging 0.eight per cent quarter-on-quarter, through the January-March quarter of fiscal 12 months 2020-21, in comparison with damaging 5.5 per cent within the earlier quarter.
The property guide predicts the decline in rents to decelerate this 12 months with the general rents anticipated to say no by three per cent within the Asia Pacific area, in comparison with 4.eight per cent decline witnessed in 2020.