hBits launches new asset with around ₹55 crore investment opportunity

Fractional ownership platform hBits has launched a new asset in Thane, offering ₹54.66 crore investment opportunity.

The Grade A commercial asset located in Ashar IT Park at Wagle Estate, has a leasable area of 1.1 million square feet and is leased out to a French listed tech multinational. The asset has an entry yield of 8.75 per cent and an expected internal rate of return of 15.16 per cent.

This is the 16th property of hBits. Key tenants in that micro market include Raymond, Cipla and DHL.

• Also read: Adani Realty plans big realty push in Mumbai, to rival Jio Convention Centre

The location has proximity to Eastern Express Highway, Thane Railway Station and the soon-to-be operational Wagle Circle Metro Station, indicating long-term growth for the area.

“The BFSI sector, especially fintech, is thriving in the country, accelerating the demand for commercial real estate across key metros,” said hBits Founder & CEO, Shiv Parekh. “India’s leading office rentals have also witnessed an annual increase of about 4-8 per cent. Our new asset is a testimony to our strategy of acquiring properties in premium locations to offer lucrative investment opportunities to our investors,” he added.