Casagrand forayed into the commercial real estate segment by announcing the launch of its new venture Casagrand Commercial. The venture is another new vertical in Casagrand Group Companies, which is planning to invest Rs 8,000 Cr in the next 5 years.
The company aims to deliver world-class commercial space which will include workspace, IT/ITES buildings, retail malls, and standalone retail space by developing 10 million sq. ft of highly equipped commercial spaces by 2027, which has an estimated rental potential of Rs 900 Cr annually. The company is all set to launch 2 million sq. ft in Chennai and very shortly planning to acquire 100 acres of land parcels. Casagrand Commercial will also develop commercial projects in Bengaluru, Hyderabad, and other metro cities which will be 40% of the total investment.
Having carved a significant niche in the South Indian real estate market, the company has pioneered several flagship projects housing novel themes and innovations. The brand-new venture - Casagrand Commercial is yet another leap forward in the same direction by building the business model on 5 significant pillars – Value for many occupants, on-time delivery, unique product, logical amenities, and Casagrand’s legacy.
Casagrand Commercial has on-boarded experts from various fields like product development, purchase, engineering, sales, marketing, finance, among many others. The company has also appointed top-class consultants for building innovative projects. The projects will be built at an optimized cost and delivered on-time, yielding great value to the tenants.
Casagrand Commercial will develop aesthetically pleasing and sustainable projects with world-class amenities and wide open and green space. The projects will be built on a futuristic approach by offering smart solutions and advanced automation facilities. The projects will be built by offering effective office spaces, to ensure the highest level of safety, and significant certifications such as LEED, WELL, and obtaining other important certificates.
Designed imbibing international standards, all facilities developed under Casagrand Commercial will be built on occupant-centric principles, where people can seamlessly live-work-play, seeking to reinstate, thereby enhancing the comfort and convenience in daily life.
Commenting on the foray, Arun Mn, Founder and Managing Director, Casagrand, “With great pride and joy, we are happy to inform you all that we have forayed into the commercial real estate sector. This is an exciting time as many government initiatives are being taken to develop the infrastructure, and we see huge potential in this sector and a gap between the modern demand and supply. Casagrand has always stood for quality, reliability, and innovation, and we have applied the same principles in this commercial venture as well in order to meet the needs of business requirements. We strongly believe many companies will find our projects very convenient which will eventually lead towards creating a significant business environment with adequate job opportunities. We intend on achieving 10 million sq.ft of leasable area across the metro cities by 2027. We welcome landowners and companies to join us in this journey as we have charted strong growth plans in commercial real estate for the coming years.”
The company is planning to launch with the following projects, Casagrand Astute, a commercial office space at Nandambakkam 2,75,000 sq ft. of leasable area, Ground plus 9 floors of office space building and Casagrand Bizpark, IT/ITES space 6,00,000 sq ft of leasable area with ground plus 14 floors at Sholinganallur, Casagrand the Paragon, office space at Radial Road 3,00,00 sq ft.
Pertaining to the small retail format, Casagrand commercial has launched Casagrand Connect at Ambattur and Melakottaiyur with 1,65,000 sq ft. and 1,75,000 sq ft of leasable area respectively. Casagrand Commercial will be a great journey in Southern realty space by creating wonderful experiences for the tenants.
