Bagmane Developers Pvt Ltd, located in Bengaluru, has leased 2.23 lakh sq ft of office space to Texas Instrument Pvt Ltd, a semiconductor manufacturer in the city, for Rs 1.4 million per month, according to records obtained by Propstack.
The leased property is located in Bagmane Tech Park, Lake View in CV Raman Nagar. The leasing deal was signed on August 13, 2023.
The lease term is five years, and the rental period begins on January 1, 2024.
The records suggest that the lease comprises six levels and requires a deposit of Rs 12.8 crore.
The agreement will include a five percent annual rental increase.
The lease’s rental rates are as follows: Rs 135 per sq ft between January and December 2024, Rs 141.75 per sq ft during the same period in 2025, Rs 148.84 per sq ft in 2026, Rs 156.28 per sq ft in 2027, and Rs 164.09 per sq ft in 2028.
The arrangement also includes 288 parking spaces priced at Rs 4,000 for each slot.
Texas Instrument Pvt Ltd is required to pay Rs 13.3 per square foot in maintenance charges between January and December 2024, with a 5% annual increase.
A list of queries has been forwarded to Bagmane Developers and Texas Instruments.
In October last year, Bagmane Developers leased 6.21 lakh sqft of office space for nine years.
Bagmane Developers leased 6.21 lakh sqft of office space to IT major Qualcomm India for nine years in a building called Bagmane Capital- Ankor in Bengaluru for a monthly fee of Rs 5.90 crore.
Calculating rental yield is an important step for both experienced investors and first-time purchasers in the real estate industry. Rental yield allows you to evaluate the possible return on your investment property and make more educated decisions. Here, we will walk you through the process of calculating rental yield and explain its relevance in the Indian real estate market.
Here’s a look at rental yields in some of India’s largest cities:
Bangalore, often known as India’s Silicon Valley, has a thriving real estate market and high rental demand. Rental returns in desirable neighborhoods like Koramangala, Indiranagar, and Whitefield are between 3% and 5% on average.
The Mumbai real estate industry is well-known for its high property prices and rental rates. However, due to the high cost of property purchase, rental returns in Mumbai are often lower than in other cities, ranging from 2% to 3%.
Chennai has a balanced real estate market, with fair property prices and rental rates. Rental returns in regions such as Velachery, OMR, and Anna Nagar average between 3% and 4%, making it an appealing investment destination.
Hyderabad has grown as a vibrant IT hub, resulting in increased demand for rental apartments. Rental returns in regions like as Gachibowli, HITEC City, and Madhapur range from 4% to 5%.
Delhi’s rental market is diversified, with rental returns ranging by area. Dwarka, Saket, and Vasant Kunj have rental returns ranging from 3% to 4%.
Kolkata’s real estate industry is distinguished by low property prices and consistent rental demand. Rental yields in Salt Lake City, Rajarhat, and New Alipore range from 3% to 4%.
