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The Future of Offices in India

The question is simple, but important. How can organisations prepare themselves to provide their employees a space where they can work effectively and efficiently, staying at par with the demands of the world? The year 2020 brought out many hidden office complications out in the open. The pandemic challenged the traditional way of working, pushing the organisations to pass their limits and adapt according to the time. For over 22 months, employees all around the globe were asked to work from home. It was one of the measures for business to stay in the market and to keep everybody safe. Gratefully, things are getting better, even though newer variants keep showing up, the organisations have prepared themselves to keep their employees safe, focusing on their health and mental health.

Work and well-being

Work and well-being

Despite the availability of working from home, JLL’s Human Experience Report found that 70% of the work force wants to go back to offices. Working from office gives keeps them focused and closer to their teammates and management. The office environment helps them to stay sharp and, on their toes, and allows them to handle pressure well. The home environment though safe to great extent hindered their productivity and made them lose focus easily, which is not the case when they worked from the office. Also read – Office Space Leasing Is Likely to Go Up By 30-35% In 2022.

“Developers and occupiers are in the process of devising strategies for a phased return to the workplace and are being diligent and thorough. A few of the developers have upgraded their portfolios with MERV 14 air filters to improve indoor air quality, making it safer for occupants. Aligning with the need of the current situation, developers are upgrading their office spaces with contactless faucets, sanitisation touchpoints, and smart features to ensure the safety and wellness of the occupiers. Going forward, occupiers and developers will have a greater inclination towards green building with integrated Building Management Systems (BMS), which focuses on efficient consumption of energy and water resources,” explains Bhupindra Singh, managing director, regional tenant representation and office services, North India, Colliers.

“Organisations have resolved to retrofit the workplace, following the health guidelines to keep their workforce safe. For instance, they are introducing new layouts in the space to help physical distancing appear more comfortable, thus resizing the footprint creatively. Some workplaces are looking to change the arrangement of furniture to maximise distance and minimise close face-to-face orientation. Besides, skylights, biophilia, rooftop terraces, balconies, and courtyards – all contribute to a better working experience. And with Covid-19, it has become a design imperative,” adds Naveen Nandwani, MD, commercial advisory and transactions, Savills India. Also read – Noida A Growing Commercial Hub In NCR.

Technology at play

Technology at play

“Technology will play an important role to create a purpose-driven environment. A smart office technology powered by IoT can detect occupancy levels in the office and sensors can automatically regulate and adjust environmental features accordingly, including ventilation, heating, and lighting. PropTech is also changing the way real estate is built, managed, and used – from reducing construction costs and streamlining documentation processes to allowing users to access building amenities via an app,” says Aryaman Vir, founder and CEO, Myre Capital, a tech-enabled fractional ownership real estate platform. Also read – 5 Ways to Invest in Indian Real Estate for Big Returns.

Besides, the pantry, canteen, and other common areas will continue to be the main interaction point between the employees, they will also have to keep in mind that the virus is still around, and hence, should focus on keeping the safe distance and masks on all day long. The organisations can’t stop employees from interacting; however, they can design their workspace into an open office structure, giving employees more area to roam and stay connected with their colleagues.

“While there will still be room for Zoom calls and virtual brainstorming sessions, hygiene considerations and touch-free technology are going to become increasingly important in workspaces. Companies are re-imagining elevator designs and security access. Instead of asking everyone to travel to a single headquarter building, companies will have satellite offices or hubs that allow employees greater flexibility and choice. Simple practices like more frequent and visible cleaning schedules might contribute to a feeling of safety. Air-filters are getting installed in offices and regular air-quality assessments will become more important,” says Sana Shaikh, a Mumbai-based architect. Also read – 5 Ways to Promote Your Work Area Projects for 2022.

Moving ahead

Moving ahead

“The function of the office will shift away from traditional work processes to more collaborative, educational, and social needs of a growing hybrid workforce. This will lead to the development of hospitality-inspired spaces and activity-based layouts, which promote collaboration and interaction,” mentions Singh. Also, read – 4 Ways to Create “Healthy” Office Spaces.

“My company has adopted a hybrid working model and it is striving to create positive changes through design. Some notable changes, which have come about at my office are the usage of thermal imaging cameras to gauge body temperature at the entrance, safe distance between workstations, small meeting spaces, and high and conventional tables to encourage movement among employees. Whether it’s the provision of natural light, biophilic elements, wellness spaces, or using an outdoor area more effectively, I believe that companies who listen to their employees and attend to their needs will find themselves in pole position,” says Deepali Sachwani, a social media manager.

How to Choose the best Commercial Property in Noida?

5 Ways to Invest in Indian Real Estate for Big Returns

Investing in real estate is a long-term strategy. Unlike the stock market where you can expect profits in real-time, getting good returns on the real estate investment can take time. However, profit on real estate is far better than the stock market in the long run. You can start investing in real estate by paying the upfront estimated value of the property and paying the total balance plus interest, over time. This makes investing in real estate easy and affordable.

The following are the ways in which you can start investing in Indian real estate:

1.    Rental Properties

If you own a residential property, which is not in use, you can put the property on the market as a rented property. Not only this will lead to monthly rent from the tenants, but will also help you in maintaining the property, which isn’t possible if you are living away from the property. Also read – 5 Ways to Promote Your Work Area Projects for 2022.

2.    Real Estate Investment Groups (REIGs)

Real Estate Investment Groups could be an ideal investment for the people who want to own a real estate property without any hassle that comes along with it.

REIGs are like small mutual fund, that redirects the money by investing in rental properties like, houses, apartments, etc. The investors can then purchase the property through the company, and can become part of the REIGs.

The investors can either own a single or more than one property, but the maintenance and other hassle are all done by the group, in exchange for some percentage from the monthly rent. Also read – Top Ways to Manage Noise in Open Office Spaces.

3.    House Flipping

This is one of the ways to invest in real estate, however, it is a costly process. House flipping is done when the buyer purchases some old or damaged property from the owner and then renovates it accordingly. The investor then puts the property on the market for sale or rent. House flipping requires early investment, in terms of, purchasing and renovation. Also read – 3 Creative Ways To Fix Echo in High Ceiling Offices.

4.    Buy REITs

REITs allow you to invest in real estate properties without actually buying them. In simple terms, they are mutual funds of real estate, where investors invest in some residential or commercial property owned by the REITs, and in return, the investors are paid back the profits. Just like the stock market, where the investor has to crucially invest in the stock after researching about the company’s return, the buyer investing in the real estate property also has to see, if the property is even worth investing in.Also read – Looking for Commercial Property and Offices in Noida Sector 18.

5.    Use Online Real Estate Investing Platform

These online real estate investing platform connects borrowers to investors, who are willing to purchase the property, and are in need of early investment. These investors are then paid interest on their investment which is usually very high. So, if you are an investor looking for some high return profits, you can invest in real estate through online platforms. Also read – Commercial Real Estate Professional – Tips, Tricks & Trends.

Top 7 urban areas see 113% rise in housing sales, new start bounce: Report

The pandemic brought everything to a halt and left everything in a distress. Every small, medium and large business felt the wrath of Covid-19, after which many struggled to get back on their feet. Indian Real Estate suffered the most in terms of growth and finance. The commercial spaces were left behind, the very day companies moved to the Work From Home model, people were left jobless when the companies weren’t able to meet the expanse and they left for their hometown, hence, the rented spaces were also left abandoned as they weren’t able to meet the rent.

However, the Indian Real Estate market is getting back on track and is seeing a great recovery. In Q3, the housing sales saw a 113% increase in the top 7 cities. In the Q3 of 2020, 29,520 units were sold when in Q3 of 2021 around 62,800 units were sold, according to the report published by Anarock.

The report also suggested that with the arrival of new launches the real estate market sales rose in the top 7 cities by 98% yearly, wherein Q3 of 2020 only 32,350 units were sold, however, in Q3 of 2021, the market sold around 64,560 units. Remarkably, the mid-range housing projects priced between Rs. 40-80 lakh and premium range projects between Rs. 80 lakh to Rs. 1.5 crore are making huge profits with new supplies with 41% and 25% shares, respectively. However, the low range segment saw a reduction in supply to just 24% in Q3 2021.

The average price of the property saw a 3% increase across the top 7 cities, with Bengaluru leading with a 4% rise in Q3 2021.

“IT/ITeS continues to push the bulk of housing demand in the top 7 cities,

“In Q3 2021, considerably improved job security and robust hiring in the IT/ITeS and financial sectors piggybacked on record-low home loan rates and increasing homeownership sentiment. The ongoing work from home culture continues to impact residential sentiment on two major fronts – overall housing demand and unit sizes. The fast-paced vaccination drive is an added sentiment booster, especially in terms of increased site visits,” said Mr. Anuj Puri, Chairman of ANAROCK Group.

Going by the report, the Indian real estate market is steadily growing in the right direction which seemed like a far-fetched dream last year. However, top real estates agents of India are positive that more sales would be recorded by the end of Q4 2021.