Latest News | Sunteck Realty Gives on Lease Commercial Building in Mumbai to Bennett, Coleman & Co

New Delhi, Apr 2 (PTI) Sunteck Realty Ltd has given on lease its commercial building in Mumbai to Bennett, Coleman & Co Ltd and expects to earn a rental income of nearly Rs 2,000 crore during a tenure of 29 years.

In a regulatory filing, Sunteck Realty informed that the company is expanding its annuity income business of its commercial portfolio.

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Sunteck said it has entered into a long-term understanding/agreement of its premium commercial building at BKC Junction, Sunteck Icon, to Bennett, Coleman & Co Ltd.

"The built-up area of Sunteck Icon is approximately 2 lakh square feet with an approximate rental of Rs 300 per square feet per month on carpet area basis," Sunteck said.

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This will allow the company to generate a revenue of close to Rs 2,000 crore over the tenure of 29 years, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)