Connect with us

News

Strata partner with India Land and Global Group, to explore new investment opportunities in Pune 

New Delhi, July 11, 2023: Strata, on Tuesday announced its strategic partnership with India Land and Global Group, two of Maharashtra’s commercial developers. 

Through this partnership, Strata is planning to raise Rs.150+  crore in phase 1 for a Grade-A office asset in Pune’s Hinjewadi. India Land and Global Group own multiple commercial properties spread across Maharashtra and Tamil Nadu.

Phase 1 of the Pune property is 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%, says a press release issued by the company. 

The asset is part of IndiaLand, a commercial real estate developer in Southern India. 

“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.

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.”

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.”

Advertisement

Trending