Leased Office space,EGL Road,Bangalore
This property offers lucrative yield & low-ticket units coupled with high safety factors of location,Developer Brand and tenant brand thus predictable and stable long term cashflows.
Here the floor is divided in 3 units and each is having separate khatas. LRD (Lease Rental Discounting) can be taken on the asset and thus offer greater tax advantage.
Strategically located near the Embassy Golf link park, overlooking the KGA golf course. Centrally located and easily accessible from all parts of Bangalore. This region primarily houses captive units of major IT/ITes and BFSI companies like IBM,Goldman Sachs, Microsoft,Yahoo, 24x7 customer, ANZ, Target corporation,JP Morgan and others.
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 90-130 per sqft and quoted monthly rent for Grade A upcoming properties is over INR 130/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.
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.