The property is situated on 96.5 cent land. It’s a 7 storey building with basement and ground floor allocated for parking and the rest for commercial purposes. The total area of the building is 150000 sq feet. (1.5 lakh). It has a road ( National highway) frontage of 50 meters. The structure is complete including plastering.
The asking price in this current state is Rs. 60 Crore . It would need another 10- 12 crore to do the finishing.
Reliance Fresh, Reliance Trends, Max Retail and Zudio is interested in the property and the last two had completed the site inspection last month.
Since the national highway is planned to divert from Kuttikkol as per the latest developments, the shopping area of Taliparamba will shift towards the project area. Taliparamba presently lacks a commercial building of this size & scale and the brands as stated above, which adds to the financial viability of the project. At present commercial buildings in Taliparamba does not meet the retail demand of the place. So this building will be filling a massive void.
Expected rental per month is Rs.84 lakh, which is at an average price of Rs.93 per sqft. Retail prices in Taliparamba is at an average of above Rs.100-Rs.150 per sqft for small outlets without parking, air conditioning and brand presence. Considering the same, an average rental of above Rs.125 could be easily considered.