[News] Strata enters into a strategic partnership with India Land and Global Group, to explore new investment opportunities in Pune
Aims to raise more than Rs. 150 crore in Phase 1 from office space in Pune
· The asset is over 120,000 square feet, and it expected to offer 12- 13% IRR and 8-9% entry yield
· India Land and Global Group are well established Real Estate Developers with interests in Industrial, Retail Malls and Offices and have multiple projects spread across Maharashtra and Tamil Nadu
Strata, India's leading tech-enabled commercial real estate (CRE) investment platform, announced today its strategic partnership with India Land and Global Group, two of Maharashtra's leading commercial developers. This partnership will strengthen the asset supply for Strata increasing its presence across the region.
Through this partnership, Strata is planning to raise Rs.150+ crore in phase 1 for a Grade-A office asset in Pune's Hinjewadi. This strategic partnership with two key developers in the commercial real estate segment will enhance Strata's presence across Maharashtra and Southern India in the coming year. India Land and Global Group own multiple commercial properties spread across Maharashtra and Tamil Nadu.
Phase 1 of the Pune property is strategically located in Hinjewadi, covering an area of 120,000 square feet. It is expected to offer an Internal Rate of Return (IRR) of 12-13% and a rental yield of 8-9%. The location has become a thriving investment hub following the establishment of the Hinjewadi IT Park. It is situated in one of the most sought-after areas, surrounded by an unparalleled infrastructure ecosystem. Enjoying proximity to all major suburbs of Pune, Hinjewadi remains one of the region's most preferred areas.
The asset is part of IndiaLand, a prominent commercial real estate developer in Southern India. With premium assets across Mumbai, Pune, Coimbatore, and Chennai, it will strategically expand Strata's presence across Maharashtra and Tamil Nadu, offering fractional investments in commercial properties to a larger audience.
“We are excited about the strategic tie-up with IndiaLand and Global Group for our Hinjewadi Pune office property,” stated Sudarshan Lodha, Co-founder and CEO of Strata. ” Hinjewadi has always been on our radar as the fastest-developing region in Pune. With the backing of these esteemed partners and the investment opportunity we are presenting, we are confident in delivering value to our investors. By meeting the growing demand for top-notch office spaces in Pune, we will further strengthen our foothold and bring more premium investment opportunities for our investors,” he added.
In conjunction with IndiaLand, the Global Group is an esteemed industrial construction group specialising in various areas, including industrial park development, built-to-suit lease options, land acquisition, project management, and warehouse logistics. The company possesses over 10 million square feet of pre-leased industrial & commercial properties strategically located across Pune and beyond.
This strategic partnership combines the extensive experience, industry knowledge, and proven track records of Strata, IndiaLand, and Global Group. By leveraging their combined expertise, the partners aim to create a premier office property in Hinjewadi, Pune, catering to the evolving needs of the business community.
Mr. Salaikumaran, CEO, IndiaLand, commented, “Strata, being one of the most prominent proptech platforms, brings us great pleasure to associate with them. This partnership will help us extend this lucrative investment avenue to a larger investor pool and participate in their overall growth journey. This asset marks just the beginning of what we aim to introduce in the market in the near future.”
Mr. Harish Hingorani, Executive Director Global Group added, “This alliance is undoubtedly a significant step for us in opening the doors to larger retail investment in such a technical and closed-door sector. This collaboration will empower us by strengthening our resources and accelerating our growth. We would like to express our gratitude to Sudarshan and his team for this collaboration and have great confidence in a long journey ahead.”
