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According to news obtained by real estate data analytics company CRE Matrix, star cricket player Virat Kohli has rented 18,430 square feet of office space in Gurugram to a business organization called Mynd Integrated Solutions for an annual cost of Rs 1.27 crore.
According to the paperwork, Kohli leased up to 12 office spaces totaling 18,430 square feet in the Reach Comercia Corporate Tower in Gurugram’s sector 68. The paperwork indicated that the rental agreement was set at a fixed monthly amount of about Rs 8.85 lakh.
Mynd Integrated Solutions Leased The Reach Comercia Office Space For Rs 1.27 Crore
Registration records state that Rs 50,010 was paid in registration fees and that Rs 3.83 lakh was paid in stamp duty during the transaction. Mynd Integrated Solutions Pvt Ltd, a company situated in Delhi, is the lessee under this agreement. Vikas Kohli, the brother of RCB star player Virat Kohli, served as the transaction’s registered General Power of Attorney (GPA) holder.
Although the transaction’s stamp-duty registration was completed on June 22, 2023, the deal’s documentation wasn’t made public until March 2024. Mynd Integrated Solutions and Virat Kohli did not immediately respond to questions on the issue.
The Terms And Conditions On The Reach Comercia Office Space Deal
According to the records, the security deposit for the sale was Rs 57.19 lakh, and the beginning monthly rent per square foot is Rs 48. 37 parking spaces are included with this workplace space, according to paperwork.
There is a nine-year lease. According to the records, the lease began on March 28, 2023, and the agreement’s rent began on July 1, 2023.
Documents revealed that the agreement called for a five percent annual rent increase and monthly common area maintenance fees of Rs 14 per square foot.
Virat Kohli Rented A Flat In Juhu For Rs 2.76 Lakh Monthly Rental
Former Team India captain Virat Kohli and his spouse, actress-producer Anushka Sharma, rented a flat in Mumbai’s Juhu neighborhood for Rs 2.76 lakh a month in October 2022. Situated close to the Juhu beach region, the apartment boasts a sea view and is housed in the High Tide building.
The famous pair made headlines earlier in September 2022 when they bought a 3,350 square meter land piece in Zirad village, Alibaug, in the Raigad district of Maharashtra. For the property, a payment of Rs 19.24 crore was made.
Bollywood stars and other well-known public personalities, including HNIs, have long been known to invest in commercial real estate (CRE), according to Knight Frank India. Bollywood star Salman Khan let out 27,650 square feet on four floors in Mumbai in 2022 to TNSI Retail Private Ltd, a Future Retail Ltd affiliate, for about Rs 89.6 lakh a month.
How Commercial Real Estate Market Is Growing
In a similar vein, director Karan Johar let out two business premises he held under the Dharma Productions moniker in 2021 for a monthly fee of Rs 17.56 lakh and Rs 6.15 lakh.
The high yearly rental return that the commercial real estate market delivers in contrast to residential real estate, according to real estate specialists, is the main driver of this trend. The amount a property owner makes each year by renting out a property is known as the rental yield.
Big Ticket Size Commercial Deals In Delhi NCR
The Delhi NCR, which includes Gurugram, has recently seen a number of high-profile real estate transactions. Wife of V Bazaar CMD Hemant Agarwal, Smiti Agarwal, a director of Wesbok Lifestyle Pvt Ltd, paid Rs 95 crore for an apartment at The Camellias by DLF in Gurugram in January 2024.
Vasudha Rohatgi, the wife of former Attorney General of India Mukul Rohatgi, paid Rs 160 crore in February 2023 for a 2,100 square yard, or 18,900 square foot, home in Delhi’s exclusive Golf Links neighbourhood. An 11,000 square foot condo at The Camellias by DLF on Golf Course Road in Gurgaon was sold for more than Rs 100 crore in a resale in October 2023.
Comedian and actor Bhuvan Bam paid Rs 11 crore in August 2023 for a property in South Delhi’s Greater Kailash-III neighborhood.
Source-ET
