By Varun Singh

Ever dreamt of buying an entire building? That too on the Queen of Suburbs Bandra?

This could be your chance, as it not a routine thing that an entire building is put on sale.

A ground plus six storey building in Bandra is being sold.

An advertisement regarding the same was put up by Cushman & Wakefield India Pvt LTD.

The building according to the advertisement is a classic styled standalone building at posh neighbourhood of Linking Road towards Pali Hill, Bandra West.

The building is ground plus six storey along with an open terrace.

The building comprises of 3 duplexes of 5-BHKs with internal staircase and a 3 BHK on the sixth floor.

There are in total 8 car parks including 2 enclosed garage parking.

The ground and first floor duplex can be converted for commercial purpose.

Those from Cushman & Wakefield dealing with the property said they are under an Non Disclosure Agreement and cannot reveal any details.

However, sources from the industry said that the building is on a plot measuring up to 3,500 sq ft.

Whereas the constructed area of the building is around 7,500 sq ft.

The building is located on the 16th road or Bandra and the asking price is ₹65 crore.

So if you have ₹65 crore and above and aspire to own a building in Bandra you may think of buying this property.

Bandra is the Queen of suburbs and houses too names of the Bollywood industry and several business names too.

Actors like Shahrukh Khan, Salman Khan, Ranbir Kapoor and others have a house here.

Kangana Ranaut’s bungalow against which BMC had acted last year is also located in Pali Hill.

Also Read: Here’s All About Kangana Ranaut’s Khar Property

The post You can Own a 6-storey Bandra Building for ₹65 Crore appeared first on Square Feat India.

By Varun Singh

With COVID-19 wreaking havoc in the country, average monthly rentals across the key high street markets in top cities witnessed some corrections.

As per recent data by ANAROCK Research, the iconic retail hub in Delhi – Khan Market – saw average monthly rentals reduce by as much as 8% to 17% in Q1 2021 against Q1 2020.

Likewise, high street markets of Kala Ghoda, Bandra Linking Road and Fort in Mumbai (one of the worst-affected city) also saw high street retail rentals decline anywhere between 5% to 10% during the same period.

Retail sector has been one of the worst affected due to the pandemic since early 2020.

Pankaj Renjhen, COO & Joint MD – ANAROCK Retail said, “With almost zero sales amidst lockdown and thereafter as well for few months, we saw retailers closing their stores or even curtailing their future expansion plans. As a result, the average monthly rentals across the major high street retail markets mostly saw corrections across cities. However, there were also few markets that saw an upward trend. For instance, Hyderabad localities such as Gachibowli, Banjara Hills, Jubilee Hills saw average retail rentals increase in Q1 2021 against Q1 2020.”

If one consider trends of the previous two quarters, the retail segment seemed to be on the verge of recovery and was gradually inching towards the pre-pandemic-level business. However, the second wave has once again crimped this growth.

In an overall trend, many of the prominent high streets in the country saw reduced monthly rentals over the last one year.

High Street Rental Trends in Top Cities

Almost zero sales seriously impacted the retail sector during the first lockdown. Soon thereafter, many retailers closed down their stores permanently or a the very least curtailed their expansion plans.

Given this sombre scenario, the average monthly rentals across major high street retail markets began correcting by anywhere between 2% and 30%. However, some markets saw an upward trend in the same period:

• The country’s most expensive retail hub – Khan Market in New Delhi – saw a drop of between 8-17% in avg. monthly rentals in Q1 2021, as against Q1 2020. The avg. monthly rentals hovered b/w INR 1,000-1,100 per sq. ft. as on Q1 2021-end. Likewise, in GK-1 M Block, rentals reduced between 13-14% and are presently b/w INR 300-350 per sq. ft.
• Brigade Road in Bengaluru saw a drop in rentals between 8-17% in Q1 2021 as against Q1 2020 with current avg. monthly rentals between INR 250-275 per sq. ft. At Indiranagar, the rentals range between INR 225-250 per sq. ft.
• Another highly impacted city was Pune where average high street monthly rentals dropped anywhere between 8-20% in Q1 2021 in comparison with Q1 2020. While M G Road saw rentals maintain status quo of INR 250-275 per sq. ft., the landlords on J M Road are also holding the rents at INR 275-300 per sq. ft. despite vacancy.
• Kolkata also saw a decline in its high street rental rates, Gariyhaat Rash Bihari Avenue being the worst affected in the city with rental rates dropping to INR 160- 220 per sq. ft. in Q1 2021 from INR 250-260 per sq. ft. in Q1 2020.
• Mumbai saw about 5-10% decline in rentals rates in key markets as on Q1 2021 against the previous year. The current average monthly rentals at both Kala Ghoda and Fort area are around INR 450-500 per sq. ft. each, while at Bandra Linking Road it stands at approx. INR 750-900 per sq. ft.
• In contrast to all major cities, Hyderabad saw an increase in average high street rental rates in areas like Gachibowli, Banjara Hills and Jubilee Hills as much as 7-15% during this period. The avg. monthly retail rentals in Gachibowli are now at INR 115- 125 per sq. ft. Last year, they were INR 100- 120 per sq. ft. In Banjara Hills 12, the avg. monthly rentals increased from INR 120-130 per sq. ft. in Q1 2020 to anywhere between INR 135-140 per sq. ft.

Also Read: Mumbai Rental Market Sep-Nov 2020: 55021 Sep-Nov 2019: 44455

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