Tuesday, November 20, 2007

Delhi Metro Sets Benchmarks For Commercial Properties, Diversifies Into Real Estate

Delhi subway have changed the manner the metropolis moves. But that is history! The up-to-the-minute plume in Old Old Delhi Metro Railing Corporation (DMRC)'s crest is its existent estate portfolio and creative activity of some human race social class commercial message places in Delhi.

The IT park at Shastri Park is one such as example, which have done wonderments for places around. This alone edifice which is NBC (National Building Code) 2005 compliant is one of best intelligent edifices in the Asia Pacific Ocean part with a refined edifice direction system in place. Built over a land country of 6-hectares of which 1-hectare is the constructed area, IT Park' Block 1 is being taken up by Genpact (80%) with a few other renters such as as Central depository financial institution and Heritage Solutions, Nokia.

According to a DMRC spokesperson, they had to struggle respective barriers including the location of IT Park at what was then a down market, 'close to Seelampur' area. It was a tough occupation 'literally' too, as the land at Shastri Park was uneven and 7-meter below level. To degree this area, DMRC had to execute an earth-filling exercise. However the strong belief which DMRC had all along was that if an IT parkland could be provided for within Old Delhi and that too on the subway corridor, there would be adequate takers. Still, the undertaking has

And the consequence was beyond all expectations- today there are over 3,000 employees commuting mundane to the IT Park in Shastri Park, from assorted parts of Old Delhi NCR. There is a rush in place demand from corporates as well and after the soaking up of space in 1 block by Genpact, the 2nd one will be ready by December 2007 and will be taken up by Accenture. Plans for Block 3 are in the grapevine and tendering is taking place.

The rental values in this portion of Old Delhi here have got escalated from Rs 40 per sq. foot per calendar calendar month to Rs 60 per sq foot per month and further Rs 6-per sq. foot per calendar month is additional added over the rental value for maintenance. The approaching up of IT Park have positively impacted the Shastri Park area, and have changed the profile of existent estate markets- now promenades are coming up in locality such as as Welcome and Shahdara station. Another positive mark for Old Delhi properties!

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