Vaishnavi Group leases out over 4 lakh sq. ft. of Grade A commercial space to Navi Technologies in Bengaluru
Bengaluru, 17th May 2023: South India’s leading real estate developer, Vaishnavi Group, announced the leasing of 4.12 lakh square feet of prime office space to insurance major Navi Technologies at Vaishnavi Tech Square as it aims to expand its commercial footprint to meet the growing demand for Grade A commercial properties in the city. Spread across 4 acres, the technology park offers a seating capacity for over 4,000 employees with state-of-the-art amenities and sporting facilities to support the evolving requirements of today’s employees in the country.
Located along Bengaluru’s Outer Ring Road which houses some of the biggest technology giants in the world, Vaishnavi Tech Square offers a perfect mix of prime location, excellent connectivity, a healthy availability of residential units nearby, and impressive social infrastructure, making it a destination of choice for employee-friendly companies. This new-age office takes a holistic approach with employee well-being at the centre of design. Meeting pods, large open spaces, ample natural light, and a host of sports infrastructure including a gymnasium, running track, cycling track, table tennis, and futsal court are a part of Vaishnavi Tech Square. This comes on the back of Bengaluru witnessing a healthy demand for Grade A properties with efficient space planning and attractive amenities as employees return to work-from-office.
Commenting on the development, Darshan Govindaraju, Director, of Vaishnavi Group said, “As one of the leading real estate developers in the country, Vaishnavi has carved a niche for itself as a quality developer and set a benchmark for ahead-of-time project delivery with a nuanced understanding of the evolving needs of today’s employees and employers. With Vaishnavi Tech Square, we are offering a new-age design and amenities which enhance the overall satisfaction score of occupiers and is ushering in a new era of a workplace which spurs innovation. We are delighted to welcome Navi Technologies to Vaishnavi Tech Square and to be their partner in their growth”. Vaishnavi currently has over 1 million square feet of commercial development under construction and 2.5 million square feet in the pipeline.
According to international property consultant Jones Lang LaSalle, India’s office market across the top seven cities (Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata, and Pune) recorded a net absorption of 38.25 million square feet in 2022, hitting a three-year high. This comes on the back of increasing inflow of investments from foreign and domestic companies to spur growth in the world’s fastest-growing market. With 25 years of experience in developing quality real estate, Vaishnavi Group has been the preferred partner for companies looking to expand their presence in India’s Silicon Valley. In the last year alone, it has leased 1.5 million square feet of commercial spaces to marquee occupiers.