With players like DLF, Godrej Properties & Larsen &Toubro (L&T) already dotting Chandigarh and eyeing presence in commercial space, the city tang seems to be graduating.
Till now most of the corporate and transnational companies had to satiate themselves with the available commercial spaces located in the Shop cum Offices(SCO).
A Vashishta, Head Business Development, Developmental Project Business (L&T) maintained the demand for good commercial spaces in Chandigarh was always there though it was latent. In absence of options, players had to settle down with whatever option was available. But now with organised players setting in definitely it would offer an opportunity to the players to shift in space which not only provides a state of art infrastructure but also options like plug to play and large parking space.
L&T Realty is planning to come up with projects in Chandigarh which would be a mix of retail, commercial and hospitality.
The commercial space is expected to be ready by 2012 and the marketing for which would commence from 2011. L&T already has generated response from many companies for the commercial venture.
Features like international airport coming and city dotting on the IT map, Vashistha maintained these would call for more transnational companies in the city, and pent up the demand for commercial spaces.
Ankit Aggarwal, from Godrej properties maintained Chandigarh had many advantages to its credit which attracts the organised players towards the commercial realty.
The stepping in of organised players in the commercial space has lend an option to the companies engaged in pharmaceutical and financial operations which are scouting for larger spaces.
Availability of large space at attractive prices and concept of ‘green building’ are some features the players are offering to the corporate willing to relocate in theses spaces.
Also the attractive prices and huge parking space available in the commercial spaces. Aggarwal maintained they have received interest from many companies which are willing to relocate in the commercial spaces being developed by Godrej.
Godrej is coming with project ‘Godrej Eternia’, which would be their first ever commercial project in the North. Godrej Eternia envisages investment of Rs 200 crore.
