Office: Several transactions in their last leg before the COVID-19 induced lockdown were concluded, with those occupiers exhibiting confidence about their long term business prospects.
Retail: Construction activity came to a standstill for more than 3 months and landlords are not in a hurry to resume work anytime soon amidst a rising COVID-19 tally besides labour and resource constraints.
Industrial: The large-scale supply chain disruptions in the wake of COVID-19 led to a slowdown in Chennai’s manufacturing operations and even demand for warehousing facilities in H1 2020 declined by 95% when compared to the half yearly absorption in H2 2019.
Residential: Sales could recover albeit at a slower pace post the lockdown given the extension of tax benefits for affordable housing units and developers bringing in new offers to increase sales.
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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