April 27, 2010
Integrated Commercial Developments Gaining Momentum in India
Following the successful model of integrated residential complexes, integrated commercial spaces are experiencing a surge in popularity across India, according to a senior executive at Jones Lang LaSalle Meghraj (JLLM).
Mr. Anuj Puri, the Country Head of JLLM, observes this as an emerging and commercially viable trend. "This is an upcoming trend as well as a saleable one," he stated.
These projects typically encompass a diverse range of facilities, including office spaces, five-star hotels, and retail areas, all within a single development.
Examples of Integrated Projects
One such project, developed by the Brigade Group in Bangalore, serves as a prime example of this evolving trend. Numerous similar projects are also in the pipeline across the country.
Puri anticipates that the profit margins for builders engaged in these integrated projects will surpass those of more conventional developments.
Further illustrating this trend, BPTP Ltd's Capital City project in Noida spans an impressive 21.17 acres and boasts 2.1 million square feet of office space. In suburban Mumbai, Nirmal Lifestyle's Nirmal Galaxy at Mulund provides another example of this integrated approach.
Confidence in Success
Expressing confidence in the success of these projects, one builder noted the proven track record of similar integrated residential developments. "There is no doubt in the success of such projects since their housing counterparts are already a success," the builder commented. The positive reception of integrated residential projects fuels optimism regarding the future of integrated commercial developments.