- Offers secured returns to retail investors with minimum INR 25 lakh investments
- IIFL and ICICI Bank existing clients in Ackruti Centre
hBits, the real estate company offering fractional ownership (FA) to investors, today announced that the company is offering Grade A+ asset in Mumbai, Andheri East. Ackruti Centre is in Mumbai’s premier financial hub and is available at minimum investment of INR 25 lakhs only.
The property is in line with the vision of the company offering maximum benefits to investors in terms of rental yield and appreciation in property value. hBits existing tenants for this property investment are ICICI Bank and India Infoline (IIFL), accompanying the 9 year lease term with ICICI and 5 year lock-in period for IIFL. This is a unique opportunity, to secure you future income with 12.5% rental escalation every 3 years. The deal offers investors 15% discount on market rentals and property value. In terms of yearly yield an investors will get approximately INR 2.29 lakhs as rental yield on y-o-y basis. It will be a win-win situation for the investors.
On the launch, Shiv Parekh, Founder of hBits said, “This will be our second investment in this quarter, we have recently closed 40 crore deal in the month of January 2021. We are only focusing on bringing quality assets for our strong investor’s base of 10 thousand. An asset like Ackruti Centre Point is one of the best deals one could dream, due to its prime location. We are hopeful of closing this investment by the end of this month. We look forward to a great and fruitful business ahead and would be closing the year with more than INR 100 crore AUM.”
Ankush Ahuja, Director, Business Development & Investments, hBits said, “This opportunity is a gold mine for realty investors offering them rental yield of 9.2% (Including 1% rent top-up) is one of the key factor in the deal offered hBits. Fractional ownership has turned out to be an underdog investment option till now. People are still not very well aware about the benefits leveraged by the fractional ownership. The company has shown growing graph since its inception and we hope to maintain this liquidity throughout.”
The total area offered to investors under is 34K sq ft at an average rate of INR 83. This is a value proposition for the investors. The company has acquired floor 6th and 7th of Ackruti Centre.
Mumbai has 16% market share of Grade A+ office spaces occupied by the top 500 corporate in India. The office market in Mumbai has shown strong performance in the past 5 years with leasing transactions over 6.9 mn sq. ft. Private equity investments were at INR 437 bn in 2019. Office segment accounted for 50.1% share, Mumbai attracted the highest share at 31.7%. Office Stock in 2019 stands at 124 mn sq. ft, net absorption stands at 5.18 mn sq. ft and new completions stands at 2019 5.21 mn sq. ft, according to India Market Watch Office-Savills.
Recent lease transactions in the vicinity stands at INR 123 per sq ft. and our lease stands at INR 83 per sqft. Recent purchase transactions in the vicinity stands at INR 14943 and for hBits it stands at INR 11,661.
