Mumbai: reserve Bank of India (reserve Bank of India) is looking for additional office space in the financial capital near its head office in South Mumbai or in Bandra Kurla Complex area.
According to the RBI, it wants office space with a size of 2,601 to 7,681 square metres, for which it has issued a request for proposal (RFP) for “one-time purchase of office premises” in Mumbai.
The central bank “intends to purchase vacant and peaceful possession of office space having clear and marketable title for its use in South Mumbai and/or Bandra Kurla Complex (BKC) area near its existing establishments…,” RFP said document.
According to the RFP, the Reserve Bank of India is looking for its office premises with a minimum carpet area of 2,601 sq/m (28,000 sq/ft) and a maximum of 7,618 sq/m (82,000 sq/ft) to be located in South Mumbai, which is 1.5 times its size. Located within a radius of km. Central Office Building at Fort, Mumbai and/or BKC.
The document states that property proposals located on leasehold land with a residual lease period of at least 30 years will also be considered by the RBI.
Anuj Puri, Chairman, ANAROCK Property Consultants said that as per ANAROCK Research, the total leasable space in BKC is around 8.7 million sq/ft area, of which 8-10 per cent is lying vacant.
He said that the total leasable space in the Central Business District (CBD) area is about 21 lakh square feet area, of which 10-12 per cent is lying vacant.
Karan Singh judge, Regional Managing Director, India, JLL, stated that these micro markets (old CBD/Fort and new CBD/BKC) are deprived of any proprietary assets that may be in a position to meet such requirement, Because the supply is very less here. Here the grades match the requirement of A offices.
The rates for Grade A offices in the “old CBD” area will be in the range of Rs 25,000 to Rs 50,000 on the carpet. However, when we look at the new CBD (BKC), there are some Grade A buildings which may meet this requirement. complete. specific grade The pricing in the BKC micro market ranges between Rs 45,000 to Rs 65,000 on carpet.”
Since land development in BKC comes under the purview of the Mumbai Metropolitan Region Development Authority (MMRDA), development in this micro-market is more regulated and hassle-free and always comes with a clear title deed, Sodi said.
NS Reserve Bank India was established on 1st April, 1935 in accordance with the provisions of Reserve Bank of India Act, 1934.
The central office of the Reserve Bank was initially established in Kolkata but was permanently shifted to Mumbai in 1937. The central office is where the governor sits and where policies are formulated.
Although originally privately owned, since nationalization in 1949, the Reserve Bank is wholly owned by the Government of India.
RBI has 27 regional offices, most of them in state capitals and 4 sub-offices.
According to the RBI, it wants office space with a size of 2,601 to 7,681 square metres, for which it has issued a request for proposal (RFP) for “one-time purchase of office premises” in Mumbai.
The central bank “intends to purchase vacant and peaceful possession of office space having clear and marketable title for its use in South Mumbai and/or Bandra Kurla Complex (BKC) area near its existing establishments…,” RFP said document.
According to the RFP, the Reserve Bank of India is looking for its office premises with a minimum carpet area of 2,601 sq/m (28,000 sq/ft) and a maximum of 7,618 sq/m (82,000 sq/ft) to be located in South Mumbai, which is 1.5 times its size. Located within a radius of km. Central Office Building at Fort, Mumbai and/or BKC.
The document states that property proposals located on leasehold land with a residual lease period of at least 30 years will also be considered by the RBI.
Anuj Puri, Chairman, ANAROCK Property Consultants said that as per ANAROCK Research, the total leasable space in BKC is around 8.7 million sq/ft area, of which 8-10 per cent is lying vacant.
He said that the total leasable space in the Central Business District (CBD) area is about 21 lakh square feet area, of which 10-12 per cent is lying vacant.
Karan Singh judge, Regional Managing Director, India, JLL, stated that these micro markets (old CBD/Fort and new CBD/BKC) are deprived of any proprietary assets that may be in a position to meet such requirement, Because the supply is very less here. Here the grades match the requirement of A offices.
The rates for Grade A offices in the “old CBD” area will be in the range of Rs 25,000 to Rs 50,000 on the carpet. However, when we look at the new CBD (BKC), there are some Grade A buildings which may meet this requirement. complete. specific grade The pricing in the BKC micro market ranges between Rs 45,000 to Rs 65,000 on carpet.”
Since land development in BKC comes under the purview of the Mumbai Metropolitan Region Development Authority (MMRDA), development in this micro-market is more regulated and hassle-free and always comes with a clear title deed, Sodi said.
NS Reserve Bank India was established on 1st April, 1935 in accordance with the provisions of Reserve Bank of India Act, 1934.
The central office of the Reserve Bank was initially established in Kolkata but was permanently shifted to Mumbai in 1937. The central office is where the governor sits and where policies are formulated.
Although originally privately owned, since nationalization in 1949, the Reserve Bank is wholly owned by the Government of India.
RBI has 27 regional offices, most of them in state capitals and 4 sub-offices.
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