Definite to raise Rs 15 crore from investors for 15,135 sq ft space in Pune

NEW DELHI: Definite, which provides fractional real estate ownership to investors in commercial real estate, plans to raise Rs 15 crore from its individual private investors interested in buying a 15,135 sq ft commercial space in Magarpatta City, Pune.

The spaces has a capacity to house two hundred plus people. It will provide fractional ownership to the investors with a minimum investment amount of Rs 25 lakhs.

“The asset has high rental yields, favorable lease terms, and significant potential for growth. With this opportunity, we are looking to provide a 9.94 percent avg. rental yield,” said Varun Mohan, CEO & founder of the company.

The lease of the asset is for seven years with a lock-in period of five years. The rent of the asset is Rs 71.8 per sq ft per month with an escalation of 15 percent in the rent after every three years.

The company claims that the asset provides an average rental yield of 9.80 percent for a period of seven years to regular investors and 9.94 percent for early investors.

The commercial asset will be registered under special purpose vehicle (SPV). The SPV and the asset will be managed by Definite