April 27, 2010
As per some senior executive of JLLM, Jones Lang LaSalle Meghraj, integrated commercial space developments is following the steps of integrated residential complexes and is thus expanding in India.
Mr. Anuj Puri, th Country Head of JLLM said that this is an upcoming trend as well as a saleable one.
Such projects house office space, five-star hotels and retail area among other facilities.
The project in Bangalore from Brigade Group is an example of such projects while there are many more such projects queued up.
As per the expectation of Puri, the margin builders have kept in these projects is higher than that in other projects.
Other examples of such projects are Capital City by BPTP Ltd in Noida which is spread across 21.17 acres and comprises 2.1 million sq ft of office space, Nirmal Galaxy by Nirmal Lifestyle at Mulund in suburban Mumbai.
One of the builders said that there is no doubt in the success of such projects since their housing counterparts are already a success.