CBD Building’s Makeover

While posh residential complexes and retail flashiness have seen the public imagination, old decaying buildings in the country are on a retrofitting pitch. Central business districts are gradually losing their gleam because of their inability to offer A – Grade  buildings at competitive rates, and re-fitting, which involves raising of the economic status of existing old buildings, is emerging as the preferred option.

As part of normal business process we endlessly review our possessions including real estate to unlock business value from idle assets. We have aptly renovated our former head office at Churchgate, Mumbai and are exploring various options for realising optimal business value from this property. Demand for offices in CBD areas, real estaters claim, carry on to be high for various reasons like limited supply of new office space, established business ecosystems, accessibility to services, and well connected infrastructure and a prestigious address. Director Investment, Amber Maheshwari said,”Due to which rentals that had hollowed 20 percent during the recession have already inched up by 5-10 percent in the first half of this year”. Though CBDs havelot of potential to re-fit their existing old stock, it is not always a profitable proposals as the builders rarely break-even the expenses incurred.

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