Your browser version is 8.0 and the minimum required version for this
website is 9.0 So please use IE 9+.
click here to upgrade IE
Facebook Icon
Twiiter Icon
Youtube Icon
Google Plus Icon
LinkedInIcon
Call:   +91 89 2854 1424


Gera in News
 
 
 

Edelweisee buys office space in Mumbai for Rs 130 crore

Financial Express - 19 March, 2015

Edelweiss buys 1 lakh sq ft office space in Mumbai

By: Shubhra Tandon | Mumbai | March 19, 2015 3:56 am

Financial services firm Edelweiss has bought over one lakh sq ft of office space in Mumbai’s eastern suburb of Kurla, in a deal that could be valued at up to R130 crore, inclusive of all costs, sources with direct knowledge of the development told FE.

The Rashesh Shah-promoted firm, which is looking to expand operations, will be acquiring the office space, spread across five floors, in the Kohinoor City, a project by Mumbai-based real estate developer Kohinoor Group. Edelweiss owns an entire building in Kalina, which is close to Kurla.

The office space that Edelweiss has acquired is close to the business hub of Bandra Kurla Complex (BKC) that houses the offices of many
Indian and multinational financial services firms and corporations.

According to sources, Edelweiss will be acquiring the commercial space at a rate of around R10,000 per sq ft, which is said to be a reasonable price to pay for office space in the locality.

It is a good value deal from the perspective of property price appreciation expected in and around Kurla,” said a property consultant who knew about the transaction.

An email sent to Edelweiss remained unanswered. A Kohinoor Group spokesperson confirmed the transaction, but did not share any financial details.

Spread over 38 acres, the Kohinoor City houses 13 lakh sq ft of residential area and 9 lakh sq ft of commercial space. This land was once owned by Premier Automobiles, makers of the once-iconic Premier Padmini cars.

Kurla is a congested area characterised by slums, makeshift garages and stores for industrial spare parts. But with amenities and accessibility to the area improving, it is in the process of getting a facelift.

In the last four years, Kurla has seen a spate of real estate transactions with some big-ticket deals. Though they are located close to each other, property rates in Kurla are around half of what they are   in BKC. Commercial space in the latter commands a rate of R25,000-30,000 per sq ft.

In 2011, American School bought 1.4 lakh sq ft of space for around R125 crore in Vidyavihar, a suburb close to Kurla. The Atul Ruia-promoted Phoenix Mills’ Phoenix Market City, a high-end shopping mall and office space project, is situated in Kurla.

On March 10, Mumbai-based Housing Development Infrastructure announced the launch of its new residential project called the Premier Legend in the same vicinity.

 

http://www.financialexpress.com/article/companies/edelweiss-buys-1-lakh-sq-ft-office-space-in-mumbai/55112/

News Archive
 
 
 



Testimonials

I’ve been a sports person, and also captained my throwball and volleyball teams. I understand the importance of extracurricular activities in our growing up years.

Trainings provide a child with the required discipline when working within teams as well as gives one the chance to follow what makes you happy. It also enables an overall development!
Dance has been my passion since I was a child and I have been thrilled to see both my little ones have this in their genes too.

This opportunity really came to my doorstep through Gera. My daughters Lavanya and Diya have had an enthralling experience being a part of not just one but three Academies (The Shiamak Davar Dan..

I cannot thank you enough for making our journey with Gera so so interesting and mind-blowing. I had never ever imagined my life taking a beautiful turn with me beginning to start my career as a music teacher that too with SMA (Shankar Mahadevan Academy) and all this has been possible only because of GERA and YOU my dear.
It is only because of your efforts and kind gesture that I could meet the man himself (Shankar Ji) and have a small recording session with him. That was like a dream come true.
I am super excited to start my journey with SMA and Gera as a teacher now.

Apart from that, Me and Prateek have always been grateful to you for making Shiamak happen for us and I ..

It was indeed a pleasure being a part of the Christmas celebrations at Astoria. Kudos to the Gera team for bringing in such a wonderful event with great carol singing participation from our own kids. It brought in the spirit of Christmas and the games, Santa, the gifts only added to it. Thanks for organising such a wonderful event which helped in community building...looking forward to many more such celebrations!

..

The Christmas event organised at Astoria was a big success and a big step in bridging the gap between us and Gera. It was a memorable event as we are still in the beginning of our journey of life in our little home at Astoria. The kids have been the happiest of all and what more can we ask for when we see smiles on the faces of our little ones. Kudos to you and your team for making this event a huge success! Looking forward to many more in the years to come.

..

The Christmas party organised by Gera at Astoria this year was a great success with good participation from kids and parents. Our children Sia and Saish enjoyed the party to the fullest. Sia, in particular, had a gala time and reiterated her stand that Anita aunty's parties are THE BEST.... We as your customers take much pride in informing our friends that such goodwill gestures are one of the many differentiators Gera brings to us, which no other builder in Goa can boast of. Many thanks to you and your team for doing an excellent job in putting up this event. We look forward to the next one! A big thanks to the Gera Management for its efforts in community building.

..