Office: Though Grade A projects did not witness any major headline rent reductions, effective rents saw a softening due to changes in earlier agreed rent escalations and restructuring of transactions as developers offered higher rent-free period subject to lock-in commitments.
Retail: Hypermarkets, electronics, gym equipment stores, athleisure wear retailers and take-away and home delivery in F&B continued to outperform other segments during the year as consumer purchases were higher for these products.
Residential: On an annual basis, Delhi NCR saw an 88% decline in new launches which stood at 1,452 units at the end of 2020 signaling the developers’ focus on execution and offloading of their under-construction inventory.
Industrial: The warehousing and logistics segments benefitted from a shift in consumption behaviour towards online purchases during the pandemic, with Delhi NCR recording a robust 3.1 msf of warehousing and industrial leases during the second half of 2020 while the year closed at 4.4 msf.
India Investment: Despite the disruption and delayed decision making due to COVID, annual investments (INR 377.4 bn) were just 4% lower than the 5-year (2015-19) average PE inflows of INR 392.2 bn.
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