Office leasing to remain subdued in 2021 first half; tech firms to continue lead demand indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
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Popular locations like Singapore, Sydney and Melbourne can start looking forward to recovery in 2021 as they have low vacancies, while many other APAC office markets will see higher demand but pressure on rents and rising vacancy will remain
Most APAC logistics & industrial markets remain in expansion mode, with rents steadily rising; Colliers expects the sector s popularity with investors to increase further
APAC technology occupiers should account for 20-25% of office leasing demand in APAC over 2020-2025
Flexible workspace operators likely to seek off-CBD opportunities as occupiers look outside traditional business districts
Sustainability will start to drive property investment and leasing decisions
Union Budget 2021 | FM Sitharaman extends affordable housing benefit until March 2022
In order to promote supply of Affordable Rental Housing for the migrant workers, it is also proposed to allow a new tax exemption for the notified Affordable Rental Housing Projects
Finance minister Nirmala Sitharaman on February 1 extended the affordable housing benefit by one more year until March 2022. The FM also announced tax exemption for rental housing projects in her Budget speech.
The income tax rebate of Rs 1.5 lakh for affordable home loans will continue until March 2022, she said.
In order to promote supply of Affordable Rental Housing for the migrant workers, it is also proposed to allow a new tax exemption for the notified Affordable Rental Housing Projects, she said.
Rental housing to see enhanced supply due to Budget boost
February 01, 2021
Affordable housing accounts for over 35% of supply across top 7 cities
Rental housing has been given a big boost in the Union Budget 2021. It offers a tax deduction for those undertaking rental housing projects and this is likely to enhance supply.
“As anticipated, affordable housing and rental housing have got a big boost, with the government extending the period for extra deduction of ₹1.5 lakh available for loans up to March 31, 2022. This will keep demand buoyant for affordable housing in 2021 as well,” said Anuj Puri, Chairman, Anarock Property Consultants.
He further added, “The extension of the tax holiday for affordable housing projects for one more year will help bring in more new supply within this segment. As per Anarock Research, affordable housing already accounts for more than 35 per cent of the supply across the top seven cities in the country.”
Companies in Bengaluru favour flexi spaces
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Friendlier lease agreements and reduced spend make this growing market highly attractive
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Friendlier lease agreements and reduced spend make this growing market highly attractive
In November last year, payment service company Exceleron Software gave up its office of eight years in a commercial building at J.P. Nagar by just letting the lease agreement die a natural death. It now calls a smaller space its office, having signed a lower flexible lease term with ClayWorks, a flexible workspace provider.
Pradnya Chebi, Head, Exceleron, points out that this way, the company has made sure it does not pay for a space that would lie painfully underutilised. The company s 30-plus staff has not set foot in the office since the pandemic, and would likely continue working from home for a few more months.