Sunteck Realty Limited, a luxury real estate development company based in Mumbai, has leased out approximately 200,000 square feet of the built-up area of its premium commercial building, Sunteck BKC51, to Upgrad Education Private Limited for a term of 29 years.
Upgrad will be paying starting rentals of close to Rs 300 per square feet per month on a carpet area basis, generating a total revenue of close to Rs 2,000 crore over the entire lease tenure.
BKC51, a commercial venture, is positioned in the vicinity of Bandra Kurla Complex (BKC), the financial nucleus of India’s economic capital. This location provides an amalgam of superlative infrastructure and immediate access to the airport, railway stations, and the eastern and western corridors. The presence of numerous academic institutions and multinational enterprises in the vicinity of BKC engenders an enriched pool of skilled talent, propelling edtech companies to gain access to potential clients and investors.
JLL, a firm that provides real estate investment and management services, has recently issued directives for a significant commercial transaction. As per Rachit Mohan, who is one of the co-heads of office leasing advisory at JLL in Mumbai, the micro-market in question is an exquisite location for companies aiming to amplify their productivity, curtail expenses, and enhance employee satisfaction and well-being. The area proffers several prospects to network with others, procure funding, and avail assistance.
Mohan’s declaration intimates that the microcosmic marketplace is an indispensable and pivotal locale for commercial entities. The placement of one’s business in this vicinity may yield multiple advantages and enhance operational efficiency. This is especially true for corporations that accord primacy to the welfare and well-being of their personnel, for the micro-marketplace is fashioned to sustain a healthy and productive working milieu.
Sunteck Realty has proudly announced that the BKC51 project has achieved pre-certification for a green building from Edge-IFC, a member of the esteemed World Bank Group. The real estate firm has also revealed that the project is nearly completed and possession is expected to be granted by June 2023.
Kamal Khetan, the chairman of Sunteck Realty, expressed his joy at the partnership with one of South Asia’s largest higher EdTech companies. Khetan emphasized the company’s unwavering commitment to delivering unparalleled real estate solutions to their valued clients. The opportunity to offer an environmentally sustainable and distinctively exceptional space to the aspiring minds of the next generation is both thrilling and gratifying.
