 "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 stabilise as sales are likely to be lower compared to 2023.")
Real estate majors like DLF, House of Hiranandani, Tata Realty and others have begun digital rating of their commercial properties, with multinational tenants demanding ratings based on digital connectivity and readiness of buildings so as to meet their ESG compliance and sustainability goals.
“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,” said Sriram Khattar, vice-chairman and managing director, DLF Rental Business.
“Some of our projects, certified by global standards, set the benchmark for excellence in connectivity. Centaurus, a 21-storey commercial development, located in Hiranandani Estate, Thane is WiredScore certified. With this certification, we are also one of the first developers in India to be certified for the WiredScore,” said Joseph Martin, chief information officer- IT at Mumbai-based real estate developer House of Hiranandani.
New York-based WiredScore provides an internationally recognised digital connectivity and smart building rating system through a certification for real estate. The system evaluates properties on multiple parameters like internet and mobile connectivity inside and around the building assessing coverage and performance, and the resilience of the digital infrastructure.
The Telecom Regulatory Authority of India (Trai) had last year issued regulations on rating of properties based on digital connectivity to bring a framework for the ratings. The regulator had argued that a property with better ratings shall attract more users, buyers or investors and thereby add value to the properties.
As India’s commercial real estate is positioned on par with the most advanced markets globally and equally getting a skewed share of demand from global capability centers (GCCs) and multinational enterprises, the requirement of modern, future-ready campuses that are digitally equipped and rated is becoming a primary demand by occupiers.
“With office leasing in India expected to surpass the existing benchmark of 79 million sq. ft. of 2024, the demand for tech-enabled and future-ready campuses is surging. As occupiers increasingly seek integrated, hybrid-ready environments, digital infrastructure is becoming a non-negotiable standard,” said Ritesh Sachdev, senior vice-president and head of Leasing and Asset Management, TATA Realty and Infrastructure Ltd.
Players like TATA Realty and Ganesh Housing have aligned their developments with the Trai’s Digital Connectivity Rating framework.
“We’ve integrated multiple redundant fibre-optic pathways with internet-service provider flexibility, 100 per cent diesel generator backup in N+1 configuration to ensure uninterrupted operations, and AI-powered biometric access control systems,” said Anmol Patel, director at Ganesh Housing Corp Limited, talking about the Million Minds Tech City in Ahmedabad.
He noted that digital readiness enhances India’s global competitiveness, which in turn further attracts GCCs, multinational enterprises, and innovation-driven industries, thus enabling ease of doing business and future-proofing investments.
