What makes the offer stand out from other such offers is that many global brands have already signed up with the Group on lease terms. Talking about the difference between this offer and other leased guarantee offers in the market, Prateek Mittal, Executive Director, Sushma Group and IIT Alumnus, explains, “Sushma Group is offering leased spaces in its commercial projects where we have already entered into tie-ups with global brands like Nike, Subway, Pizza Hut, Crocs and many more. This in turn has motivated investors into buying units that are occupied by these leading global brands so that they start reaping the fruits of rental income from day one. As global brands are already operating in the project, it promises great footfalls and make the commercial project an ideal destination as a leisure avenue for the shoppers.”
According to a new report by ANAROCK Retail, between April 2020 and May 2021, some of the leading retail brands finalised over 120 lease deals at prominent high street markets across Indian cities and towns. The deal sizes ranged for areas as low as 400 sq. ft. and went all the way up to 35,000 sq. ft, the report states. Of the categories that closed high street leases, apparel had the largest share of deals with an over 23% share, followed by F&B with a 15% share, and jewellery with 12%. Hypermarkets and supermarkets mostly leased large high street spaces in smaller towns and cities. The prominent tier II and III cities include Chandigarh, Lucknow, Ahmedabad and smaller towns in Uttar Pradesh and Madhya Pradesh.
Zirakpur’s population has risen multifold over the last decade, while Chandigarh’s population has expanded at a considerably slower rate. This population density has boosted the demand of commercial properties. On PR7 Airport Road alone Sushma group to have multiple commercial projects. Zirakpur has one of the most developing economies right now. The city’s steady growth has progressively made it one of the highest retail consumption city in North India. Starbucks has opened its first and only drive through outlet in India at Zirakpur.
Sushma Capital is Zirakpur’s first organized high street retail located in Peer Muchalla, Zirakpur, designed in the European-style. It provides 350 commercial shops & parking space of 400 Cars. The project sprawled over 6 acres, boasts about first-of-its-kind Sky Bridge connectivity in the region. It also offers seamless connectivity to bustling residential areas like Peer Muchalla, Panchkula Sector 20 and Dhakoli.
The demand for high streets in small towns is backed by the increasing resilience of non-metro customers. With lack of quality retail centers in most of these cities, demand has got focused on new-age high streets. Speaking on the ongoing commercial campaign and its unique characteristics, Mittal said, “Upcountry clients are already looking to invest in Chandigarh Tricity. They prefer commercial over residential as it offers high returns and with global brands, it suffices their intention of just utilizing it as a source of rental income. For our clients, this campaign offers a medium of assured income as the Group holds a prominent reputation in the realty market and has delivered 14 projects in the past 13 years.”
Corporate Comm India (CCI Newswire)
