Invest in one floor or two between INR 11 to 22 Cr and Earn Rental yield of 8.5 % with an expected ROI of 14 %.
Leased Office space,EGL Road,Bangalore
Why invest in this opportunity?
The property is located in a established IT – CBD neighborhood of Bengaluru and is accessible from Indiranagar, Koramangala, MG road and Old Airport Road. IT MNCs are the tenants of this building. One of the tenants is an IT/ITES company operating in new age digital-data field operating across multiple countries, and the other tenant is an MNC with operations into defense sector.
Accessibility & Location
The project is located along 100ft road. Other attributes of the location are: High street retail and shopping is just within 1-2km radius of this property. This micro market is home to fortune 500 IT/ITES giants including IBM,Goldman sachs,Microsoft,Target and Fidelity.
Market & Asset Performance
This micro-market has operational office space inventory of 14 million sq.ft. The average annual absorption of office space in this micro market is 0.5-0.6 million sq.ft.The average monthly rent for Grade A facilities in this locality is INR 90-100 per sqft and quoted monthly rent for Grade A upcoming properties is over INR 120/sqft. The micro market is supply locked therefore we do not expect major supply in the future. Therefor monthly rental is expected to be stable & witness growth.
Expected Growth Scenarios
This micro-market will continue to be one of the most sought-after location in Bengaluru due to proximity to Indiranagar, Koramangala and old airport.
Godrej properties has bought 4.85 acres land parcel for Rs 700 Cr from Puravankara quartering H1, 2021 in the same micro-market for Grade A+ office space development. This will further improve the attractiveness of this market.