Developers find relief in commercial properties
Browbeaten by various factors, including demonetisation, consumer-centric initiatives like Real Estate (Regulation and Development) Act, goods and services tax, Insolvency and Bankruptcy Code, and Benami property law over the past four years, the battle-fatigued real estate sector is finding relief in the high-stakes commercial real estate game. Commercial space absorption has been high at close to 40 million square feet (sqft), as more developers scamper to build office spaces, new-age co-working joints, specialised e-commerce-specific buildings. According to experts, exposure to commercial development has increased to over 40 per cent and in some cases close to 50 per cent.
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