HNIs flock to commercial properties as residential market slows down

Strata sales in the top five cities last year were worth Rs 6,000 crore

Last year, a Delhi-based high-net-worth individual (HNI) bought a 29,495 square feet commercial property in the Raheja Titanium complex in Goregaon East, Mumbai. The seller was based out of Kenya. Similarly, a tech-based fund bought 48,000 sq ft and 7,721 sq ft at the L&T Seawoods in Navi Mumbai and The Capital in the Bandra Kurla Complex, respectively. 

These two instances are not isolated. For, with residential markets continuing to struggle, giving poor yields and capital appreciation for investors, strata sales in office properties are seeing a sharp spurt in top cities, say consultants and investors. 

Strata sales are sales