Sumadhura Group gives on rent 5 lakh sq ft commercial spaces in Bengaluru, to earn Rs 50cr/yr
Sumadhura Group
has given on rent a 5 lakh sq ft area at its commercial building in Bengaluru and will earn Rs 50 crore annually as rental income.
The company said in a statement that it has leased 5 lakh sq ft of office and retail spaces at its flagship commercial tech park,
Sumadhura Capitol Towers
, at Whitefield in Bengaluru.
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The leasing transactions are projected to generate an annual revenue of Rs 50 crore.
Madhusudhan G, Chairman & Managing Director of Sumadhura Group, said: "Bengaluru's Grade A+ office real estate continues to draw strong interest from both domestic and global occupiers, driven by robust infrastructure growth, rising demand, and enhanced connectivity."
He said the office demand in Bengaluru is driven by multinational corporations, which want to set up Global Capability Centers (GCCs) in India.
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The project 'Sumadhura Capitol Towers' spans across 8.67 acres with a total leasable area of 1.5 million sq ft area.
Sumadhura Group is one of the leading real estate developers in South India. It has delivered 54 projects comprising over 13 million square feet, while another 40 million square feet is in the pipeline.
The group develops residential, commercial, and warehousing projects. It has also entered into operating co-living centres.
According to Cushman & Wakefield, gross leasing of office spaces across the top 8 cities is expected to cross 90 million square feet during 2025, beating last year's record demand of 89 million square feet.
The gross leasing of office space in January-June stood at 41.7 million sq ft across eight major cities as against 41 million sq ft in the year-ago period, the consultant said. PTI
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