Home / News

RealEstate

  • 0

Strata launches new grade-A office asset opportunity in Chennai; aims to raise INR 27 crore from investors

Strata launches new grade-A office asset opportunity in Chennai; aims to raise INR 27 crore from investors

 §  To offer a gross entry yield of 9.1% and targeted IRR of 12.9%

§  Perungudi is one of the most preferred neighborhoods in Chennai for residential and commercial purposes

§  This asset is pre-leased for 5 years would have a lock in period of 3 years

§  Strata, currently has more than 35k+ users & 2k+ investors globally

Chennai, 4th August 2022: Strata, India’s leading tech-enabled commercial real estate (CRE) investment platform, today announced the launch of its 17th commercial asset, a plush, Grade-A office property in Chennai. Leased out to a leading US based technology company, Strata aims to raise Rs. 27 crore for the asset which is expected to offer a gross entry yield of 9.1%.

 

Situated in one of the most strategic locations of Perungudi in Chennai, the office asset spans across an area of approx. 35000 sq. ft. and has been pre-leased for a period of 5 years with a lock-in period of 3 years. Additionally, the asset is expected to generate a net investor annual internal rate of return (IRR) of 12.9%, thus creating a rewarding and stable asset opportunity offering inflation beating returns while generating passive income in the long-term.

 

Popularly known as the IT corridor of Chennai, Perungudi is now gaining popularity as one of the most preferred residential areas too. Owing to its location on the IT highway and proximity to other key neighborhoods in Chennai such as Thiruvanmiyur, Adyar and Velachery, it serves as one of the most archetypal location for a premium commercial asset.

 

Commenting on the launch, Sudarshan Lodha, Cofounder & CEO, Strata Property Management, said, “After raising a record breaking fund of INR 38 crore in 38 hours for our entry asset in Pune, we are much enthusiastic to return to our special market Chennai, with a brand new office asset. Primarily dominated by the IT, engineering and manufacturing sectors, Chennai has been witnessing strong leasing activity through the first two quarters of 2022 which clearly indicates full recovery from the pandemic. With continued demand momentum across IT and manufacturing sectors, the commercial property market in Chennai is witnessing immense traction and therefore our asset launch comes in at a very strategic time.”

“Since Strata’s launch in 2019 we have come a long way in building a robust portfolio of assets worth INR 700+ crore across strategic locations in the country. We are extremely thrilled to return back to the ever growing market of Chennai for the launch of our 17th asset which further strengthens our presence in South India. With a premium tenant, location as prominent as Perungudi combined with Strata’s unparalleled tech and management expertise, our latest offering is a highly lucrative investment opportunity in Chennai” he added.

After funding 16 assets across the country, Strata’s return to Chennai with its second asset in the city, comes in at a strategic time when the city is witnessing strong revival post the pandemic. The company, today has over 700+ crore worth of Asset under Management (AUM) with total of 2.8 million sq ft managed across cities such as Bengaluru, Hosur, Hyderabad, Mumbai, Pune, Jaipur, etc.

 

Strata has been relentlessly working towards democratizing commercial real estate as an asset class in the country. The company has an investor base of over 35k+ comprising of over 2000 active investors.

 

Strata envisions to be the largest alternative investment platform in the country for retail investors by enabling them to invest in CRE assets, by democratizing assets and offering it on an easy-to-use online platform. Through its tech-enabled platform, Strata empowers retail investors across the globe to invest in specific commercial properties in a particular location of their choice whilst offering good yields. Strata is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield and PropStack.

Previous News

Technology News

Combination of 5G, AI, M2M and IoT is bringing the world closer to a connected future

Combination of 5G, AI, M2M and IoT is bringing the world closer to a connected future

IDEMIA whitepaper on IoT/M2M Security Essentials and Trusted Framework

ARTPARK@IISc and Nokia join forces, demonstrate the power of next-generation telecom networks in business communication and automation at IMC 2022

ARTPARK@IISc and Nokia join forces, demonstrate the power of next-generation telecom networks in business communication and automation at IMC 2022

  • The strategic partnership aims to harness AI and ML adva

Invendis to Roll-out 5G Routers and Wi-Fi Solutions ‘Designed’ and ‘Made in India’ in Collaboration with MediaTek

Invendis to Roll-out 5G Routers and Wi-Fi Solutions ‘Designed’ and ‘Made in India’ in Collaboration with MediaTek

NEW DELHI, India – October 02, 2022: Fifth-generation wireless (5G) will potentially be one

KSUM-backed startup gets CERT-IN recognition

KSUM-backed startup gets CERT-IN recognition

Thiruvananthapuram, Oct. 02: Technopark-based cyber security startup Beagle Secu

Latest Business News

LENDINGKART INKS STRATEGIC ALLIANCE WITH CHOLA

LENDINGKART INKS STRATEGIC ALLIANCE WITH CHOLA

̴ To lend business loans to SMEs and MSMEs  ̴

 

Gitex Global 2022: Quixy to bring the idea of No-Code to the masses

Gitex Global 2022: Quixy to bring the idea of No-Code to the masses

Hyderabad, India, 3rd October 2022 – Quixy, the leading no-code platform which has jumped its position from “

Tata Motors registered total sales of 2,43,387 units in Q2FY23; Grows by 42% over Q2FY22

Tata Motors registered total sales of 2,43,387 units in Q2FY23; Grows by 42% over Q2FY22

Mumbai, October 3, 2022: Tata Motors Limited today announced its sales in the domestic & international market, for Q2FY23