Hi ppl,

I'm here coz i know there are genuine investors / potential investors here.

I have a 1000 sq ft pillarless office at Kalyani Nagar and I am looking to either give it on rent or sell it outright. The name of the building is Gera77.

I have uploaded some pix on www.picasaweb.com/manuk.mb

Do let me know what are current rental rates in the area and how much extra can one get if the office is furnished.

Do let me know if someone in interested in rental or outright purchase.

Thanks & regards
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  • There are genuine end-users on this forum seeking a thousands of sq foot space to build their home.
    The informed investors have gone away from RE markets. This is the lack of investors you are here to seek genuine buyers. Not only you, Even Samrajya's Pethkars are not finding investors and are vouching on this forum to attract buyers.

    Originally Posted by amitmk1
    Hi ppl,

    I'm here coz i know there are genuine investors / potential investors here.

    I have a 1000 sq ft pillarless office at Kalyani Nagar and I am looking to either give it on rent or sell it outright. The name of the building is Gera77.

    I have uploaded some pix on www.picasaweb.com/manuk.mb

    Do let me know what are current rental rates in the area and how much extra can one get if the office is furnished.

    Do let me know if someone in interested in rental or outright purchase.

    Thanks & regards
    CommentQuote
  • Originally Posted by amitmk1
    Hi ppl,

    I'm here coz i know there are genuine investors / potential investors here.

    I have a 1000 sq ft pillarless office at Kalyani Nagar and I am looking to either give it on rent or sell it outright. The name of the building is Gera77.



    For 1000 sqft commercial space in kalyan nagar you can get rent anywhere from 25000 to 70000. But Gera77 must be at lower side as location is not good (infact bad as it is just behind octori post).
    CommentQuote
  • Alright. I'm going to tell you another story of Commercial Real Estate.

    Pune has had IT parks and Commercial Projects coming up all over the place. There is not one area where there is no IT park. This has given a over supply of commercial space in Pune.

    However, new IT companies are hardly coming in. Only old majors who are too fragmented with their offices all over the cities, like pspl and tcs are trying to consolidate their operational cost and moving to Hingewadi or some other parks.

    Since there is very low new demand the whole Commercial Sector is under great pressure to sell or rent. Just drive by where ever you live and look for boards like "shop on rent" or "offices on rent". Its all over the place.

    Kharadi as an area is banking so heavily on the IT park out there that the residential prices out there are almost tripling. However, the number of co's coming in there are very few. Again, only oldies trying to consolidate. Almost no new ones.

    Just FYI.
    CommentQuote
  • Kumar had a front page ad in TOIlet paper yesterday to rent out canaught palace (in middle of city).
    Real despo it seems.

    Originally Posted by harshalx


    Since there is very low new demand the whole Commercial Sector is under great pressure to sell or rent. Just drive by where ever you live and look for boards like "shop on rent" or "offices on rent". Its all over the place.

    CommentQuote
  • Originally Posted by aditi sharma
    Kumar had a front page ad in TOIlet paper yesterday to rent out canaught palace (in middle of city).
    Real despo it seems.


    Yeah i saw that ad as well. Connaught Place ( Bund garden road ) & Kumar Point ( Parihar Chowk ).
    CommentQuote
  • Originally Posted by aditi sharma
    There are genuine end-users on this forum seeking a thousands of sq foot space to build their home.
    The informed investors have gone away from RE markets. This is the lack of investors you are here to seek genuine buyers. Not only you, Even Samrajya's Pethkars are not finding investors and are vouching on this forum to attract buyers.


    Buddy i dont live in Pune. So the query. Chill. Coz brokers are telling me rentals are lower than what i was getting 2 yrs back I wanted to confirm the same. Its quite unbelievable.
    CommentQuote
  • Originally Posted by mahesh pune
    For 1000 sqft commercial space in kalyan nagar you can get rent anywhere from 25000 to 70000. But Gera77 must be at lower side as location is not good (infact bad as it is just behind octori post).


    Octroi post has been removed from there. I dont think its on the lower side coz I was getting slightly under the max rental u just mentioned.

    Old tenant moving out and newer offers coming in at 30% less rent.
    CommentQuote
  • Originally Posted by harshalx

    Kharadi as an area is banking so heavily on the IT park out there that the residential prices out there are almost tripling. However, the number of co's coming in there are very few. Again, only oldies trying to consolidate. Almost no new ones.

    Just FYI.


    Kharadi prices have tripled? Surpising. Triple was maybe at the peak of the property boom. They are all lower than the peak by abt 20-30% now.

    On the other hand, Marvel sold out its residential project at 6k/sq ft and Panchshil at abt 5k there. THATS STEEP. 60% higher than rates for other projects there. What is so great abt them?

    Donno how those 2 builders have managed to sell at that price.
    CommentQuote
  • Originally Posted by aditi sharma
    There are genuine end-users on this forum seeking a thousands of sq foot space to build their home.
    The informed investors have gone away from RE markets. This is the lack of investors you are here to seek genuine buyers. Not only you, Even Samrajya's Pethkars are not finding investors and are vouching on this forum to attract buyers.


    Wishful thinking :o
    CommentQuote
  • Originally Posted by amitmk1
    Octroi post has been removed from there. I dont think its on the lower side coz I was getting slightly under the max rental u just mentioned.

    Old tenant moving out and newer offers coming in at 30% less rent.


    Amit, thanks for the info. So this confirms commercial is down for sure. Residential is also stagnant from last 2 yrs.

    I am sure you will find buyer, there still... are many Investors in Pune, dreaming to double the price in 3-5 yrs. Once the bullish trend in Pune end, you will find it difficult to sell.

    All the best to you.
    CommentQuote
  • Originally Posted by amitmk1
    Kharadi prices have tripled? Surpising. Triple was maybe at the peak of the property boom. They are all lower than the peak by abt 20-30% now.

    On the other hand, Marvel sold out its residential project at 6k/sq ft and Panchshil at abt 5k there. THATS STEEP. 60% higher than rates for other projects there. What is so great abt them?

    Donno how those 2 builders have managed to sell at that price.


    Marvel and Panchshil are like your in the television market. Priced higher but always sell. Kharadi prices have not tripled for sure, all of them are roughly around Rs 3000 psqft, barring a few projects. What is the rent you ar expecting for your property? I reckon it should be around Rs 20,000.
    CommentQuote
  • Originally Posted by amitmk1
    Octroi post has been removed from there. I dont think its on the lower side coz I was getting slightly under the max rental u just mentioned.

    Old tenant moving out and newer offers coming in at 30% less rent.


    Ok I was not aware of octori post moving out though that was on card for long time. But yes rentals in Pune has come down as there is oversupply. same applicable to kalyani nagar also. Huge mall is coming on Nagar road just before Ramwadi next to Agakhan palace and that will just provide more supply.
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  • amitmk1

    What rent are you quoting for the office?
    My wife runs an interior design firm and has been looking for an office lately.

    We live right beside Agakhan Palace. So your office will be nearby.

    Let me know.
    CommentQuote
  • Originally Posted by amitmk1
    Buddy i dont live in Pune. So the query. Chill. Coz brokers are telling me rentals are lower than what i was getting 2 yrs back I wanted to confirm the same. Its quite unbelievable.


    there is a general oversupply of retail space in Pune and more so in your area. However I believe Gera77 is located at a corner junction so purely from that point of view, you should be able to get the max rental. Why dont you call up the Gera offices and find out whether they are willing to help you out to get the max?
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  • Originally Posted by bheeshma
    What is the rent you ar expecting for your property? I reckon it should be around Rs 20,000.


    Bheeshma, I guess you are living on a diff planet if you think I should be getting 20k for a 1000 sq ft office.

    It is not necc to post in case you are not aware of rental values in the area.
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