Baani Group: A platform for an upswing on every level

Indian Commercial Real Estate has not been ailing in recent times, but it’s been no party either over the past seven to eight years. It’s been through a recovery cycle since the dramatic global collapse of 2008, but fortunately it has gone nowhere close to the dizzying statistics of the pre Lehman era. It’s been through a round of much required cleansing and now has set itself up on a platform for an upswing on every level. This would not only include the economics of the industry, but also focus on quality assets, corporate governance and a much required disruption and enabling by technology.

Policy reforms by the government…

Policy reforms by the Government including those in favor of the highly anticipated REITs (Real Estate Investment Trust) is not only going to bring in liquidity to Commercial Real Estate, but also focus on bringing more transparency for investors and end users. Indian real estate sector have already witnessed a host of FDI (Foreign Direct Investment) Real Estate funds ramp up activity in India over the last 24 months. Majority of this traction has been in Commercial Real Estate with marquee funds like Blackstone, GIC, Brookfield and CPPIB among others aggressively assessing and acquiring assets. To add to that, the Real Estate (Regulation and Development) Bill passed recently by both the houses of parliament is expected to facilitate more foreign direct investments in the sector.2018 should continue to be an active year for global real estate investment. Demand for the commercial real estate in 2017 was steady with approximately 32 million being absorbed. Vacancy, however, averaged at close to 17% and looks set to drop further this year, prompting the demand for new construction and launch of quality commercial supply. Demand for office space will continue to be driven by IT/ ITeS, BFSI, Manufacturing, Pharma and the ever burgeoning internet economy. Indian Commercial Real estate is poised well now with policy and technology support to fulfill the promise it has always shown.

Globally recognized…

Globally, Real Estate is perhaps the largest asset class that has dawdled behind in technology innovation; more than ever in our part of the world. Real Estate, however, has created enormous wealth without any changes to workflows or processes. One can only imagine how this industry could be with the efficiencies technology would bring in. Residential Real Estate has already witnessed tech action with online marketplaces, broking services and marketing platforms jostling for space.

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