Mumbai: The Reserve Bank of India (RBI) is looking for additional office space in the financial capital near its head office in South Mumbai, or in the Kurla bandra complex area.
According to the RBI, he wanted office space with a size of 2,601 to 7,681 square meters, where he had issued a request for a proposal (RFP) for “office purchases” in Mumbai.
The central bank “intends to buy an empty and peaceful office space ownership that has a clear and marketed title, for its use in the South Mumbai area and / or in the Kurla (BKC) bandra complex close to the existing company …,” RFP document said.
According to RFP, the RBI is looking for a minimum office place of 2.601 sq / mtr (28,000 SQ / foot square) and a maximum of 7,618 sq / mtr (82,000 sq / feet) the carpet area located in South Mumbai within 1.5 km from its head office building In the fort, Mumbai and / or at BKC.
Property offers located on a rental area with a residual rental period of at least 30 years will also be considered by the RBI, the document is added.
Anuj Puri, Chair, Anarock Property Consultants, said that in accordance with Anarock’s research, the total leasable space in BKC was around 8.7 million areas of SQ / FT where 8-10 percent lay empty.
In the Central Business Center (CBD) area, the total leasable space is around 2.1 million in the SQ / FT area where 10-12 percent are lying empty, he said.
Karan Singh Sodi, Regional Implementing Director, India, JLL, said this micro market (Old CBD / Fortress and New CBD / BKC) Hunger of all single-owned assets that might be in a position to meet such requirements, because there is a supply of class A very low here matches the requirements.
“Rates for class A office in the ‘Old CBD’ area will be in the range of Rs 25,000-rs 50,000 in the carpet.
However, when we see the new CBD (BKC), there are several class buildings that might meet this need.
The price of class A is typical at The BKC micro market ranges from Rs 45,000 to 65,000 Rs in the carpet, “he said.
Because the development of land in BKC is under PurView of the Mumbai Metropolitan Regional Development Authority (MMRDA), development in this micro market is more regulated and hassle free and always with a clear degree deed, said Sodi.
Reserve Bank of India was founded on April 1, 1935 in accordance with the provisions of the Bank of India Act, 1934.
Reserve Bank Head Office was originally founded in Kolkata but permanently moved to Mumbai in 1937.
The middle of the office is where the governor sits and where the policy is formulated .
Although initially owned personally, because nationalization in 1949, Reserve Bank was fully owned by the Indian government.
RBI has 27 regional offices, most of them in the state capital and 4 sub-offices.