The foregoing three developments are disruptive in nature and so are likely to influence the way the commercial office space functions.
A captain of the industry remarked that these are positive disruptions and hence termed them as beacons of change. He further remarked that in an overall sense there will be certain short-term headwinds arising from global policies but in the medium to long term India will be well insulated.
The biggest change is anticipated due to the institutionalization of investor. As institutional investors gain a
foothold in the commercial office real estate, improved corporate governance and better professional practices are likely to adopted by the commercial real estate sector.
With the introduction of REIT and RERA, the real estate sector is likely to see an increase in demand for professional valuers of REIT assets, professional management and valuation of properties in line with global standards will become the norm.
It augurs well for the real estate regulators to witness the institutionalization of the real estate sector’s investment, valuation, management standards closely aligning with global norms.