DLF and Tata Realty Embrace Digital Ratings for Commercial Properties
The real estate industry is witnessing a significant transformation as major players like DLF, House of Hiranandani, and Tata Realty align their commercial properties with digital ratings. This move is driven by the increasing demand from multinational tenants who require buildings to meet stringent ESG (Environmental, Social, and Governance) standards and sustainability goals.
Players such as TATA Realty and Ganesh Housing have already begun aligning their developments with the Trai’s Digital Connectivity Rating framework. This framework assesses the digital connectivity and readiness of buildings, ensuring they are equipped to handle modern technological demands.
Sriram Khattar, the vice-chairman and managing director of DLF, highlighted the importance of digital ratings: “We realised that some of the larger American tenants wanted to know our WiredScore, which is a score on the digital connectivity of the buildings. So, three buildings have now got a WiredScore ‘Platinum’ rating and now we have asked the institute to rate all our buildings across our portfolio.”
The year was a mixed bag for the real estate industry as housing supply slowed down but record investments came in. Industry experts believe that demand will stabilize as sales are likely to be lower compared to 2023. However, the adoption of digital ratings is expected to boost confidence among investors and tenants, potentially driving further growth in the sector.
The digital connectivity rating framework evaluates various aspects of a building, including its network infrastructure, redundancy, and security. Buildings that achieve high ratings are more attractive to tenants, particularly those in the tech and finance sectors, who rely heavily on robust digital connectivity.
This shift towards digital ratings is not just a trend but a necessary step for real estate companies to remain competitive in a rapidly evolving market. As more tenants prioritize ESG compliance and sustainability, the demand for digitally rated buildings is expected to grow, pushing the industry towards higher standards and better practices.
In conclusion, the adoption of digital ratings by real estate majors like DLF and Tata Realty is a significant step towards meeting the needs of modern tenants and investors. This move is expected to enhance the value and appeal of commercial properties, contributing to the overall growth and sustainability of the real estate market.
