Shop-cum-Office spaces gain ground in Tier II cities

financialexpress.com:

The emergence of Shop-Cum-Office (SCO) spaces in Tier II cities has indeed transformed the landscape of the ever-evolving real estate market in India. The concept of SCO has gained prominence after the pandemic as it has attracted businesses, provided cost-effective solutions, enhanced convenience, contributed to urban development, diversified the commercial real estate sector, and stimulated economic growth. The novel concept of merging retail and office spaces within a single building or complex enables retailers to maximize their property usage while delivering numerous benefits to customers and businesses. That’s why the demand for SCO spaces are soaring high across India.

The booming commercial real estate sector has witnessed a shift in the approach of developers towards the market dynamics, as a majority of developers are now moving towards Tier II cities to look for new business horizons. With its advanced connectivity and availability of basic facilities like schools, hospitals, banks, shopping markets among others, Karnal is one such city which has caught the attention of a host of developers and buyers. It is blessed with a strategic location that makes it the gateway to Delhi, Chandigarh, Punjab and Himachal Pradesh. Better employment opportunities, growth of the real estate sector and supporting governance in Karnal have driven up the demand for Shop-cum-Office spaces.

Tier II cities are often home to numerous SMEs and startups. SCO spaces provide an attractive proposition for businesses, particularly small and medium-sized enterprises (SMEs). They offer the advantage of having both a retail storefront and office space in a single location, enabling businesses to streamline their operations and cut down on