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In the short term, the real estate sector in Mumbai is well organized and buyers can contact RERA to voice their concerns. But, from a long-term perspective, it is important to be clear about the coexistence of RERA. In particular, in the current economic climate where developers have limited access to finance. In the current context, there is widespread confusion about whether the INR 20 billion Institutional bail package will benefit developers in Maharashtra as their projects are registered under RERA. State law itself may bar developers seeking funding through a special window for standing projects as they do not meet the eligibility requirements. While it remains to be seen, if such a situation arises, it could be a threat to the Mumbai residential market that eventually returns and shows signs of renewed demand.
In the year 2020, an office space of 1 mn sq m representing an annual increase by 14% was leased. In line with previous trends, transactions the size of small tickets did not represent the total rental volume. At 1088 sq m, the average ticket size represents an increase by 25% while the total number of deals dropped by 9% over the same period. While it shows an increase in the rate taken by companies, this situation is so new that we can conclude with a major change in preference to larger areas than what the market has seen so far.
The Information Technology / Information Services Enabled sector accounted for 27% of all operations in this year. This is largely due to the relocation and integration of large IT specialist tickets to establish tracking in the area. Special Economic Zone near Pali Hills. Residents from the IT / ITeS sector have expanded the region of Pali Hills which participates in all aspects of the sector in the city context.
A sharp increase in the use of the Financial Services and Insurance and Banking office space was observed as the rented office space decreased with both full video times and percentages. From the 7% share in the total lease of 2019, the BFSI sector share has dropped to 5% during this period. This is due to the very limited operations of companies in the BFSI space due to expansion activities focused on cities outside of Mumbai. Since Mumbai is a financial capital or banking companies have looked at office space to establish offices or expand existing office space. It means more employment for people. Drop in at Rustomjee Pali Hills to get the most of it.