The rising rents in Central Business Districts and an acute shortage of large floor plans are a few factors that are making CBDs lose out to SBDs in a big way. Level infrastructure, lack of precinct, low supply of Grade-A stock, there is more to it than what meets the eye.
The pressure on land in CBDs is causing traffic congestions, pollution and other problems. This is prompting corporations to migrate to the still evolving SBDs that are well-planned, better connected and safe. Other include:
Availability of space
Space is one of the important deciding factors in corporates choosing SBDs over CBDs. The floor plate sizes available in the SBDs are much larger than those of the CBDs. This helps them diversify or scale up easily. This is particularly true for Delhi NCR, where you are likely to get a floor plate size that is 17,000 sq. ft. more than what you would get in the CBDs. These differences in other cities are as follows:
Bangalore – 35,000 sq. ft.
Pune – 14,000 sq. ft.
Mumbai – 10,000 sq. ft.
Chennai – 7,000 sq. ft.
Kolkata – 4,000 sq. ft.
With the intensifying competition and deep internet penetration, our work models have changed. Employees these days spend more time at their office desks. The SBDs answer that demand in terms of amenities such as:
In-office attractive dining options
Parking and transport facilities
Outdoor game spaces
Fiber optic connections and quality cables have improved the connectivity of SBDs. High speed internet connections, uninterrupted telephone service and the easy availability of postal and courier services make SBDs the preferred choice for corporates in terms of better infrastructure.
From ergonomically-designed chair to water-tight security, SBDs offer the whole hog of corporate services in a safe environment. Some offices go a step ahead and have begun to provide day care facilities for mothers who work for these corporates.
The rentals for offices in SBDs are much lower than in CBDs. Although there is a demand surge, SBD rentals are no way comparable to CBDs.
With the newly-laid infrastructure in SBDs, it’s a pleasure driving to office every day and flit between home and office.
H & S’s BW
Boulevard Walk is one such commercial property that promises all amenities under one roof.Architecture on energy-efficient, green building concept, The Boulevard Walk packs in a shopping arcade, a four-star service-apartment block, The Halt and a commercial hub christened The Wing. Boulevard Walk is a complete solution for corporates and their employees.
If you think you cannot leave the CBD entirely, you can set up your corporate office there and then move out your marketing offices to SBDs. Alternatively, you could even keep your front-office operations at SBDs and move your back-office operations to the suburban markets. Several transnational companies are following that trend.
SBDs do offer a great future for the businesses that chose to establish their bases in these areas. But the decision needs to be made soon, before SBDs turn into primary business districts and the way things are going, that day doesn’t seem to be too far.
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