* Emphasis is on size i.e. No major builders are selling small units although there is huge demand for this segment. Offices of 500 sq ft size also on offer at an attractive price of Rs 29.9 lakh backed by a spread-over of 2 years.
Mumbai, India, Tuesday – Febraury 07th, 2012 — Royal Palms Estates, Mumbai’s leading developer, has introduced an innovative real-estate option to enable buyers to get their own offices they had always dreamed of. Royal Palms Estates’ new ready-possession project “Smart Business Suites” at Goregaon East in Aarey Colony comprises of 96 units ranging from sizes in multiples of 500 sq ft each. The company is offering these business suites or commercial units at an attractive price of Rs.29.9 lakh for a 500 sq ft unit which comes to about Rs 6,100/- per sq ft – a rate unimaginable within Mumbai municipal limits. What’s more, a buyer does not have to pay the full amount on possession but only a down payment of Rs 9 lakh and the balance amount is to be paid over a period of 2 years through zero interest monthly installments.
The smallest office unit can seat about 12 persons plus a cabin for the owner and is self-contained. Furthermore, the offices are air-conditioned and furnished.
Buying property at Royal Palms is a bargain in more ways than one. On one hand Royal Palms offers property at rates which are 30% – 60% below the going market rates and on the other hand one gets an option to pay in installments. This not only helps those with lesser cash flows, but one is also spared the trouble of cumbersome bank procedures for a loan. Besides, bank loans attract heavy interest which one is saving here. Property buyers are also given a FREE lifetime membership of the Emerald Club (cost 2 Lac) located within the complex.
For Investors looking at parking of own funds, this is even more lucrative as they own a ready-possession commercial space for 25% of its value. If they further rent it out they can recover their investments in a very small time. This is because capital appreciation is assured in this space-starved city. Additionally, most experts feels that the office spaces segment in India is on a gradual improvement curve, with demand just about beginning to pick up.
Royal Palms ( http://www.royalpalmsindia.com ) has already sold over 1800 offices totaling 800,000 sq ft with top names like Topsgroup, Kapole Advertising, Prime Focus, Ruchi Infrastructure, Connect Star Networks Pvt Ltd, Essel Shyam Telecom, Monarch etc having their business HQ here.
Adds Nensey, “A buyer will get on ownership at Royal Palms what he would get on rent or lease at Bandra Kurla Complex (BKC) or Andheri. Many companies which are based in Andheri, BKC or in South Mumbai are looking at shifting base with a larger area to suburbs like Goregaon. This makes acute business sense. E.g. A company owning a 1000 sq ft office in BKC or Andheri can get out of it and for the same price buy a 4000 – 5000 sq ft office in Royal Palms.”
Spread over 240 acres of lush green land in Goregaon East , Royal Palms Estates ( http://www.royalpalmsindia.com ) is just 7 minutes from the WE Highway and 7 kms away from the International airport. Says Nensey, “Supported by the exclusive, state-of-the-art infrastructure already in place corporates can also take advantage of the hospitality facilities that Royal Palms has to offer. Two five star hotels with over 800 rooms in the development make staying or working at Royal Palms a smoother affair.”
Goregaon sits in the center of Mumbai, with proximity to and excellent connectivity with Airports, SEEPZ, MIDC and Andheri East, An increasing number of swank malls, commercial developments at strategic locations, high-rises, multiplexes and numerous flyovers, are giving the suburb a whole new profile. Despite the growth, the suburb has retained its greenery and peace.
Concludes Nensey, “Over the past decade Royal Palms has managed to keep pace with market needs and produce ideas that are totally in sync with the demand from across large, small and mid-sized players, offering every investor / buyer state-of-art facilities at minimal capital investment.”
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