Sunteck Realty Leases Mumbai Building to Bennett, Coleman & Co
Apr 02, 2024 23:36
Sunteck Realty has leased its commercial building in Mumbai to Bennett, Coleman & Co. The company expects to earn Rs 2,000 crore in rental income over 29 years.
New Delhi, Apr 2 (PTI) Sunteck Realty Ltd has given on lease its commercial building in Mumbai to Bennett, Coleman & Co Ltd and expects to earn a rental income of nearly Rs 2,000 crore during a tenure of 29 years.
In a regulatory filing, Sunteck Realty informed that the company is expanding its annuity income business of its commercial portfolio.
Sunteck said it has entered into a long-term understanding/agreement of its premium commercial building at BKC Junction, Sunteck Icon, to Bennett, Coleman & Co Ltd.
"The built-up area of Sunteck Icon is approximately 2 lakh square feet with an approximate
rental of Rs 300 per square feet per month on carpet area basis," Sunteck said.
This will allow the company to generate a revenue of close to Rs 2,000 crore over the tenure of 29 years, it said.
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