India's commercial real estate market is growing rapidly after the COVID-19 pandemic, – reports Financial Express. This is facilitated by the high demand for space among tenants from different industries.
In 2020 and 2021, there were problems associated with the closure of cafes, restaurants, shops, offices. However, in 2022, the situation is gradually normalizing.
The positive impact of the pandemic can be considered the fact that many developers switched to PropTech (Property Technologies) during this period. This collective term means the digital transformation of business processes related to the purchase, sale, operation of real estate. For example, developers in India use virtual planning programs for visits to office or shopping centers, design commercial areas with contactless voice control functions. These developments are aimed at improving the safety of people, especially during pandemics.
