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Morgan Stanley Leases out Prime Commercial Space in K Raheja Altimus at Worli

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Morgan Stanley Leases out Prime Commercial Space in K Raheja Altimus at Worli

Morgan Stanley Leases out Prime Commercial Space in K Raheja Altimus at Worli

Morgan Stanley Leases out Prime Commercial Space in K Raheja Altimus at Worli

Worli is in the New Hot Spot and the new city centre of Mumbai, with Morgan Stanley picking up another 86200 sq ft at the Altimus Towers, Worli which is going to be one of the Newest and most Premium Commercial Development for Head Quarters in Mumbai. On the other hand BKC is now being awarded the 2nd Central Business District of Mumbai by Mr.Eknath Shinde CM - Maharashtra.

If you are in Bandra and near Western Express Highway the time to reach BKC and to Worli New Commercial office building Altimus of K Raheja Corp off.Dr.Annie Beasant Road, is pretty similar through the Bandra Worli Sea Link and it is far more refreshing ride than going to BKC with the current traffic conditions in reaching into BKC.

Worli as a location with High End Commercial and Residential buildings is likely to command a better pricing and higher lease rent returns. The Altimus building is located off Dr.Annie Beasant Road and on the South, North and West side from higher floors it will get Sea View and South Mumbai and Worli - Prabhadevi side view and from the East side it will look into Mahendra Towers and Lodha Worli Towers - Trump Towers and Birla Niyaara side.

Morgan Stanley has already office spaces in Goregaon and the very fact that they have chosen Worli as a location speaks volumes about the fact, that this location is far preferred by the Top Management who already reside in Oberoi Three Sixty West, Raheja Artesia, Lodha World Towers, India Bulls Blu, Raheja Vivarea, Omkar 1973 and the entire South Mumbai.  In the past 5 years we have seen most of high ticket transactions by High Net Worth individuals in the Worli - Bandra who are who so who of the Indian Corporate and Heads of institutions.

K Raheja Altimus is one of the latest buildings by the renowned K Raheja Corp and with Morgan Stanley taking up nearly 86200 Sq.Ft will open up vistas for other MNCs to have their operations in South Mumbai and in a A Grade Development. The lease rent value transacted at Rs.325/- PSF introduces the base rate for this building and with 6 months deposit. K Raheja had acquired this land of 3 acres from Siemens and this entire building should be ready by Mid 2023.

Its interesting to see that, while BKC has been favored a lot by MNC’s - Worli which houses CJ House etc. is now going to be an alternate option for large corporates who do not need to be in BKC and yet be in one of the most plush addresses in South Mumbai. With coastal road coming from Nariman Point to Worli the distance for HNI’s residing at Walkeshwar and Cuffe Parade won’t be too much and knowing K Raheja and their efficient team, they will fill up this building in no Time.

In a short span of max around 18 months to 24 months, the Worli - Dr.Annie Beasant Road Metro Station will be ready which will be less than 5 min walk from which means superb connectivity for other office team mates who may be traveling from Suburbs or from Cuffe Parade.

Oberoi Realty has a large piece of land where the Worli TV Tower is and across the road the HBS stalled project is likely to be acquired by a leading developer so Worli - Dr.Annie Beasant Road neighborhood has lots in store.

So if you are looking to invest, buy, sell in Worli, then please be mindful of the infrastructure and prime real estate being developed.










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About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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