Satellite Cities Revolutionize India's Commercial Realty Landscape
Robust infrastructure
Commercial Real EstateSatellite CitiesIndiaInfrastructure DevelopmentTalent AvailabilityCost Of LivingReal Estate MumbaiMay 29, 2024
These cities are emerging as dynamic talent hubs led by connectivity, infrastructure, lower cost of living, and improved quality of life. According to a talent feasibility study by KPMG India, factors such as talent availability, government support, infrastructure development, and cost considerations are reshaping organizations' location strategies and talent acquisition approaches.
One of the most crucial factors driving the growth of commercial real estate in satellite cities is the availability of a skilled talent pool at a relatively lower cost compared to major metropolitan areas. Infrastructure push is proving to be a game-changer, with strategic infra planning, proximity to major cities, competitive rental rates, and access to quality talent driving large corporations to set up offices in these cities.
India's commercial real estate landscape is expected to continue its growth trajectory, driven by the growth of satellite cities. With the increasing demand for office spaces, retail outlets, and co-working environments, these cities are becoming hubs for businesses and talent.
KPMG India is a leading professional services firm that provides audit, tax, and advisory services to a wide range of industries. Mindspace REIT is a leading real estate investment trust that focuses on developing and acquiring commercial properties in India. JLL is a leading professional services firm that specializes in real estate and investment management.
Frequently Asked Questions
What is driving the growth of commercial real estate in satellite cities?
The growth of commercial real estate in satellite cities is driven by robust infrastructure development strategic urban planning and availability of talent
What are the key factors shaping organizations' location strategies and talent acquisition approaches?
Factors such as talent availability government support infrastructure development and cost considerations are shaping organizations' location strategies and talent acquisition approaches
Which cities are emerging as dynamic talent hubs in India?
Cities like Navi Mumbai Pune Gurugram Noida and Hyderabad are emerging as dynamic talent hubs in India
What is the impact of infrastructure development on commercial real estate growth in satellite cities?
Infrastructure development is proving to be a game-changer with strategic infra planning proximity to major cities competitive rental rates and access to quality talent driving large corporations to set up offices in these cities
What is the outlook for Navi Mumbai as a commercial real estate hub?
Navi Mumbai is expected to see robust growth potential as a top choice for IT banking financial services and insurance (BFSI) and global capability centres (GCCs) along with an emerging hub for data centres in India
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