Top 5 Trends That Will Reshape The CRE Market In India In 2024

The Indian workspace segment and economy greatly relies on the crucial role played by the commercial real estate (CRE) market. It meets the varied requirements of companies, from long-standing corporations to emerging startups. Nonetheless, the commercial real estate environment is constantly changing. It is always developing to fit new business models, employee preferences, and technological advances. Today, various workplace trends are transforming the overall office space market in India.

Smartworks, one of the leading platforms for managed and flexible office spaces in India, led by Neetish Sarda, showcases the creative energy fueling this workspace evolution. Their concept of adaptable and expandable work areas meets the changing requirements of companies in the modern era.

Let’s explore the five key trends that will have a major impact on the Indian commercial real estate market in 2024.

Rise of Flexible Workspace Solutions

Considering the dynamics of the Indian business landscape, there is a growing need for flexible workspace solutions. Companies are actively looking for workspace solutions that meet the demands of the rising trend of hybrid and hub-and-spoke work models. Flexible office spaces, such as those provided by Smartworks, give businesses the flexibility to adjust their workspace needs according to their changing requirements. This results in cost savings and eliminates the responsibility of maintaining conventional long-term leases.

Adoption of Technology and Smart Building Solutions

The real estate industry is being transformed by technology. Smart building solutions that incorporate the Internet of Things (IoT) and data analytics are changing the way office spaces operate. Smartworks is playing a crucial role in addressing these evolving trends by utilizing technology to elevate overall occupier experience. Their tech-enabled offices enable seamless access, managing operations, providing the best security, and managing amenities and facilities seamlessly. This approach, driven by data and advanced tech solutions, enhances resource allocation and fosters a more sustainable work environment.

Sustainability and Green Building Practices

Businesses are placing more importance on being environmentally conscious. Sustainability and green building practices are becoming more prominent in the commercial real estate (CRE) market. Seeking green certifications shows that a company is dedicated to environmental accountability, which in turn draws environmentally aware businesses looking for sustainable office environments.

Shift toward Experience-driven Spaces

Modern companies understand the significance of employees’ welfare and involvement. There is a shift towards designing office spaces that prioritize meeting unique requirements through creating a holistic workplace experience. Neetish along with Harsh Binani (co-founder of Smartworks) recognized this pattern and focused on created workspaces that encourage innovation, cooperation, and employee contentment. These managed and flexible workspaces extend beyond traditional cubicles by including breakout areas, communal spaces, and facilities that encourage collaboration and foster a feeling of unity among employees.

Conclusion

Innovative trends focusing on flexibility, technology, sustainability, and employee experience are leading the Indian commercial real estate market to a crucial point. Companies such as Smartworks, guided by forward-thinking leaders like Neetish Sarda and Harsh Binani, are driving this change. By adopting these trends, the commercial real estate sector can design offices that cater to the demands of a constantly changing business landscape and a workforce that is prepared for the future.

For stakeholders in the commercial real estate (CRE) market, adjusting to these trends is now essential for continued growth and success rather than just a choice. By comprehending and accepting these changes, companies can guarantee they possess the suitable environment to succeed in the constantly transforming Indian commercial real estate market.