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.
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First Published: Apr 02 2024 | 6:19 PM IST
