EFC Acquires 49,556 Sq Ft Office Space in Pune for Rs 800 Million
The company has also established a real estate investment trust (REIT) with a substantial corpus of Rs 4.99 billion.
EfcOffice SpacePuneReal EstateReitReal Estate PuneAug 28, 2024
The acquisition is part of EFC's strategy to expand its presence in the Indian real estate market. The company has been actively investing in various sectors, including office spaces, residential projects, and retail developments.
The office space acquired by EFC is located in a prime area of Pune and is expected to generate significant rental income. The company plans to lease out the space to various businesses and organizations.
EFC's REIT has been established with the objective of providing a platform for investors to participate in the growth of the Indian real estate market. The REIT has a corpus of Rs 4.99 billion and is expected to generate returns of around 8-10% per annum.
The company's acquisition of office space in Pune is a significant move in the Indian real estate market. It reflects the growing demand for office spaces in the country, particularly in cities like Pune, which are emerging as major business hubs.
The acquisition is also expected to boost the local economy, as it will create jobs and stimulate economic activity in the region. EFC's investment in the office space is a testament to the company's commitment to investing in the Indian real estate market and contributing to the country's economic growth.
Information
EFC is a leading real estate company in India, with a strong presence in various sectors, including office spaces, residential projects, and retail developments. The company has been actively investing in the Indian real estate market and has a portfolio of properties across the country.
EFC is a well-established real estate company in India, with a strong track record of delivering high-quality projects. The company is committed to investing in the Indian real estate market and contributing to the country's economic growth.
Keywords EFC, office space, Pune, real estate, REIT
FAQs
Q What is the size of the office space acquired by EFC in Pune?
A The office space acquired by EFC in Pune is 49,556 sq ft.
Q What is the cost of the office space acquired by EFC in Pune?
A The cost of the office space acquired by EFC in Pune is Rs 800 million.
Q What is the objective of EFC's REIT?
A The objective of EFC's REIT is to provide a platform for investors to participate in the growth of the Indian real estate market.
Q What is the corpus of EFC's REIT?
A The corpus of EFC's REIT is Rs 4.99 billion.
Q What are the expected returns from EFC's REIT?
A The expected returns from EFC's REIT are around 8-10% per annum.
Frequently Asked Questions
What is the size of the office space acquired by EFC in Pune?
The office space acquired by EFC in Pune is 49,556 sq ft.
What is the cost of the office space acquired by EFC in Pune?
The cost of the office space acquired by EFC in Pune is Rs 800 million.
What is the objective of EFC's REIT?
The objective of EFC's REIT is to provide a platform for investors to participate in the growth of the Indian real estate market.
What is the corpus of EFC's REIT?
The corpus of EFC's REIT is Rs 4.99 billion.
What are the expected returns from EFC's REIT?
The expected returns from EFC's REIT are around 8-10% per annum.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora