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Investors bet on smaller leased office properties

Mumbai alone has seen deals over Rs 2,000 crore in the last one year

Ganesh Kumar, a real estate consultant in the Andheri area here, recently bought a 2,200-sq-ft property in Pune and leased it to a financial services firm. “I invested in office property for the first time. I am getting returns of 12-13 per cent, which is very good,” Kumar says. Kumar is not alone. When global investors such as Blackstone and Xander are lapping up large infotech parks and special economic zones (SEZs), high networth individuals (HNIs) and non-resident Indians (NRIs) are increasingly buying commercial properties ranging from 2,000 sq ft to 20,000 sq ft ...