One good thing out of the pandemic crisis has been the letting go of the physical monitoring and keeping tabs on who is leaving office when that is such a feature of work culture in India. So many people mistake long hours in the office premises for hard work. With work from home successful in many job functions, there is a rethink of who needs to come into work and where they need to be located. Just this one decision is going to change the way we think about real estate—as tenants, landlords and investors. The outlook for both residential and commercial properties is bleak. Pick any report and the deepening of the real estate slump is the prognosis. A Knight Frank report shows the stakeholder (read developer, builder and broker) confidence at an all-time low, both for the present and the future, with scores in the 30s. A score of 50 and less points to “pessimism”. There are already reports of those best able to bargain pushing for lower rents. A newspaper report says that banks are in the process of renegotiating their rent contracts and may stand to gain 10-20% of their rental outgo.