Office: Office space uptake was negligible in the quarter, thereby increasing vacancy rate by around 80 bps q-o-q to 41.3%.
Retail: There was no major leasing activity on the main streets during the quarter as the lockdown prompted retailers to shut their stores amidst declining footfalls even as the lockdown allowed only essential items stores to operate.
Industrial: Demand for industrial land parcels in H1 2020 was largely muted in the Ahmedabad region, with the impact of an economic and manufacturing slowdown being felt to a greater extent in this growth market as compared to the larger cities.
Residential: Normalcy is likely to be restored once the government gives more leeway and opens up inter-district transport and developers make arrangements for migrant workers to travel to project sites.
Investment: The industrial and logistics sector will continue to present good investment opportunities as the sector has the potential to be recession-proof even as the shifts in consumption patterns and India’s push towards manufacturing creates stable asset performance with investors remaining upbeat on this asset class.
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