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Prerented Properties
Properties/Tamil Nadu/T. Nagar
Pre-rented bank in T. Nagar, Tamil Nadu, leased to a bank tenantPictures are for illustration only
BankAvailable

Bank

T. Nagar, Tamil Nadu · Usman Road, ground floor

Basic details

Price
₹18.20 Cr
Rent
₹7.90 L / month
Location
T. Nagar, Tamil Nadu
Carpet area
2,400 sq ft
Built-up area
3,000 sq ft
Type of property
Bank
Avg. rental yield
5.21%
Price per sq ft
₹75,833

Property ID

PR-CHN-B24

Tenant sector

Bank

ROI

4.78%

Net ROI

4.67%

Annual rent

₹94.80 L

Rent per sq ft

₹329

Financials

Current Net ROI

4.67%

IRR

9.12%

Investment Multiple

1.96x

Total Equity Investment

₹19,83,80,000

Deposit
₹47,40,000
ROI
4.78%
Maintenance
₹28,800 / month
Property tax
₹2,18,000 / year
Total outgoing
₹2,18,000 / year

IRR and multiple assume a sale at lease end at the yield you buy at. Figures are gross of income tax.

Lease agreement and tenancy

Tenant type
Bank
Lease tenure
12 years
Lock-in period
5 years
Escalation
15% every 3 years
Property tax paid by
Owner

Lease timeline

  1. Lease start date

    01-06-2023

  2. Lock-in end date

    01-06-2028

  3. Lease end date

    31-05-2035

Monthly rent
₹7,90,000
Monthly outgoing
₹18,167
Ending monthly rent
₹12,01,491
Rent per sq ft
₹329
Price per sq ft
₹75,833
Carpet area
2,400 sq ft

Pricing

Purchase price
₹18,20,00,000
Reg. + stamp duty
₹1,27,40,000
Brokerage charges
₹36,40,000
= Total investment
₹19,83,80,000

ROI model

A year-by-year model of rent, escalations and returns for this property.

Our checks, already complete

  • Usman Road frontage
  • Nine-year unexpired term
  • A T. Nagar bank branch is a known product; we have sold them before

The exact address, the tenant’s legal name and the registered lease follow the first call. Owners prefer it that way, and so would you, in their place.

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