IIMB to launch India’s first scientific commercial rental index on 29 November
Partnership with CRE-Matrix set to revolutionize office market analysis
25 November, 2024, Bengaluru: The Real Estate Research Group at IIM Bangalore, in partnership with CRE-Matrix, is set to unveil India’s first scientific model-based commercial rental index for the Indian office market. The inaugural index will be unveiled on 29 November 2024, at an offline event at IIM Bangalore in the presence of IIMB Director Prof. Rishikesha T Krishnan, Prof. Soudeep Deb, Decision Sciences area, Prof. Venkatesh Panchapagesan, Finance & Accounting area, and Pranav Bhalla, Research & Consulting Head, CRE-Matrix.
Prof. Venkatesh will set the agenda for the day. Abhishek Gupta, CEO & Co-founder, CRE-Matrix will provide a partner perspective at the event. Meanwhile, Ananth Narayan, Whole Time Member, SEBI, will deliver the Chief Guests’ address.
Unlike conventional methodologies, the index leverages data from both new and ongoing leases, predicting their value over time to provide a comprehensive and accurate view of market trends. The index will provide a truer picture of the office rental market and avoids the impact of a fewer, non-representative, transactions skewing the index. Moreover, it captures the full impact of location and time, without having to explicitly incorporate all the individual amenities, like infrastructure, that drive rentals.
Under the guidance of Prof. Venkatesh and Prof. Soudeep, IIMB doctoral student Kapil Gupta developed the index, which covers Grade A and A+ rentals across 10 cities, spanning from Q1 2012 (index value = 100) to Q3 2024. Updated quarterly, the methodology will compute offer insights into micro- and macro-markets within cities. Future iterations will extend to green leasing, Grade B and C leases, and other property categories like warehousing.
The index promises transformative benefits for major stakeholders, including developers, operators, REITs, as well as to tenants, while its reliability and objectivity facilitate the development of financial instruments such as derivatives and structured products, that can further broaden the market.
The event is to also host a panel on ‘Challenges and opportunities in the Indian office market’, featuring- Juggy Marwaha, CEO, Prestige Office Ventures; Nirupa Shankar, Jt. Managing Director, Brigade Group; and Vinod Rohira, Managing Director and CEO, K. Raheja, who will offer an Owner-operator perspective on the topic. Thereon, Ram Chandani, Managing Director, Advisory & Transaction Services, India, CBRE; Ganesh Parameswaran, India Lead Real Estate Services, Google; and Kunal Mehra, Co-founder and President, TableSpace, will offer an Occupier-perspective on the same. A session on ‘Learnings for the residential sector’, will feature Vipul Roongta, Managing Director & CEO, HDFC Capital, in conversation with Prof. Venkatesh Panchapagesan.
Post its launch, the index, along with a detailed note on its methodology, will be made available to the public.
IIMB to launch India’s first scientific commercial rental index on 29 November
Partnership with CRE-Matrix set to revolutionize office market analysis
25 November, 2024, Bengaluru: The Real Estate Research Group at IIM Bangalore, in partnership with CRE-Matrix, is set to unveil India’s first scientific model-based commercial rental index for the Indian office market. The inaugural index will be unveiled on 29 November 2024, at an offline event at IIM Bangalore in the presence of IIMB Director Prof. Rishikesha T Krishnan, Prof. Soudeep Deb, Decision Sciences area, Prof. Venkatesh Panchapagesan, Finance & Accounting area, and Pranav Bhalla, Research & Consulting Head, CRE-Matrix.
Prof. Venkatesh will set the agenda for the day. Abhishek Gupta, CEO & Co-founder, CRE-Matrix will provide a partner perspective at the event. Meanwhile, Ananth Narayan, Whole Time Member, SEBI, will deliver the Chief Guests’ address.
Unlike conventional methodologies, the index leverages data from both new and ongoing leases, predicting their value over time to provide a comprehensive and accurate view of market trends. The index will provide a truer picture of the office rental market and avoids the impact of a fewer, non-representative, transactions skewing the index. Moreover, it captures the full impact of location and time, without having to explicitly incorporate all the individual amenities, like infrastructure, that drive rentals.
Under the guidance of Prof. Venkatesh and Prof. Soudeep, IIMB doctoral student Kapil Gupta developed the index, which covers Grade A and A+ rentals across 10 cities, spanning from Q1 2012 (index value = 100) to Q3 2024. Updated quarterly, the methodology will compute offer insights into micro- and macro-markets within cities. Future iterations will extend to green leasing, Grade B and C leases, and other property categories like warehousing.
The index promises transformative benefits for major stakeholders, including developers, operators, REITs, as well as to tenants, while its reliability and objectivity facilitate the development of financial instruments such as derivatives and structured products, that can further broaden the market.
The event is to also host a panel on ‘Challenges and opportunities in the Indian office market’, featuring- Juggy Marwaha, CEO, Prestige Office Ventures; Nirupa Shankar, Jt. Managing Director, Brigade Group; and Vinod Rohira, Managing Director and CEO, K. Raheja, who will offer an Owner-operator perspective on the topic. Thereon, Ram Chandani, Managing Director, Advisory & Transaction Services, India, CBRE; Ganesh Parameswaran, India Lead Real Estate Services, Google; and Kunal Mehra, Co-founder and President, TableSpace, will offer an Occupier-perspective on the same. A session on ‘Learnings for the residential sector’, will feature Vipul Roongta, Managing Director & CEO, HDFC Capital, in conversation with Prof. Venkatesh Panchapagesan.
Post its launch, the index, along with a detailed note on its methodology, will be made available to the public.