by THO
Fractional ownership platform hBits has launched a ₹63-crore commercial space in Pune. The asset spans across a chargeable area of 40,000 square feet and has been leased for a period of five years to a US listed multinational giant, the company’s statement said.
The rental inflow and purchase price of the asset offer an entry yield of 8.75% and an expected internal rate of return of 14.53%, the statement added.
The property is part of a 25.7 acre commercial campus, primarily occupied by prestigious tenants from the technology, engineering, manufacturing, and financial services industries, the company said.
Location of the property
The new asset – Trillion Dollar MNC – is located in Commerzone, Yerwada, the company said in a statement on August 12.
“Driven by robust regulatory policies and strong infrastructure development, our country is witnessing a significant uptick in leasing activity, and Pune is of the top cities experiencing this surge,” said Shiv Parekh, Founder and CEO, hBits.
As a part of the Eastern Secondary Business District, Yerwada has emerged as one of the most established micro markets in Pune.
Founded in 2018, hBits enables investors to invest in high-yield, Grade-A commercial spaces at a ticket size as low as ₹30 lakh. Headquartered in Mumbai, hBits group has 14 properties so far. The brand achieved a successful exit for its inaugural asset, 32 Der Deutsche Parkz, yielding a high IRR of 17.54%.
hBits plans to register with the Securities and Exchange Board of India as a ‘small and medium real estate investment trust’ (SM REIT) soon. “With plans to list on SM REITs, the new asset in Building Number 1 Commerzone, Yerwada, promises significant capital appreciation and a strategic foothold in Pune’s commercial real estate market,” the statement said.
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