SCOs (Shop-cum-Offices) are a new and innovative commercial setup flourishing in the real estate sector. Delhi-NCR has seen massive growth in the development of this concept due to its enormous benefits. Emerging as a vital sector after facing the challenges of the pandemic, the real estate sector has brought a set-up that assures them good returns.
As per the market demand, SCO infrastructures are planned at prime locations that can be reached easily. Hence, the concept of Shop-cum-Offices has turned out to be beneficial for both the developer and the investor.
The SCO establishment assures the possession of the maximum area of the infrastructure. Investors are inclined towards SCOs as they can suggest their modifications in the setup and can opt for plot sizes as per their requirements and budget. Generally, retail stores are established on lower levels of the buildings, whereas offices are set up on the upper floors to provide an accessible yet calm ambience. Retail stores always bring huge footfalls, and thus people also become aware of the commercial opportunities available in the vicinity.
The trend of SCOs has emerged the most in metropolitan cities, and Delhi-NCR has always been on top of the list. This promotes the availability of significant facilities like technical gadgets, healthcare, daily essentials and more as per the demand of the regional crowd in a common establishment. An SCO has all major facilities to make the workspace and the retail stores customer-friendly, with well-equipped technologies, power backup, and spacious setups.
The infrastructure has lifts and escalators for movement through floors and a well-managed multi-level parking to make the commuters’ visit convenient. Apart from retail stores, the area can also be used for gym, spa or other entertainment setups to serve as pre or post working hour spots for offices.
SCOs have been operating in the sector for a while now and are preferred by investors as they have become a trend, and there are a number of people willing to own space in them. The primary target audiences are the working class, as this benefits them the most.
SCOs help save precious hours of visitors that they spend on reaching out to multiple locations for various facilities. The sector is not showing any downward trend in the near future. The establishment has advanced connectivity to a better lifestyle by promoting a standard facility and making lives more straightforward. The concept has been well accepted by all and is spreading like a forest fire in the market.
(By Pradeep Aggarwal, Founder & Chairman, Signature Global India Ltd, and Chairman, ASSOCHAM-National Council on Real Estate, Housing and Urban Development)
Disclaimer: This is the author’s personal opinion.