For rental income of Rs 2,000 cr over 29 years
Sunteck Realty is expanding its annuity income business of its commercial portfolio as it enters a long term understanding/ agreement of its second premium commercial building at BKC Junction, Sunteck Icon, to Bennett, Coleman & Co.
The built]up area of Sunteck Icon is approximately 2 lakh square feet with an approximate rental of Rs. 300 per Sq. Ft. per month on carpet area basis. This will allow the company to generate a revenue of close to Rs 2,000 crore over the tenure of 29 years.
This encompasses a major milestone for the company as this is the second building on BKC Junction for Sunteck after leasing out BKC51 to Upgrad last year in March 2023 for 29 years.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
