Excellent Office Space Location for Top Corporate and Govt Companies.

One of the biggest commercial real estate projects in recent times is currently underway in the heart of prime south Delhi land at Nauroji Nagar. The project is already catching many eye balls with its huge frontage on main ring road. Also, gauging from response through phone inquires about, the NBCC Nauroji Nagar project, so far it looks like a runaway success story as soon as it is completed.  Real Estate developer and EPC Company “NBCC” is developing a 25 Acre land parcel at Narouji Nagar for grade A office space in South Delhi. With this, Delhi is in the midst of its biggest ongoing commercial office construction in over 4 decades now. The last wave of such a series of developments was seen in the late 1960 and early 70’s when most district centers and high rises in Connaught place had come upon Delhi commercial real estate development landscape. Though there were sporadic developments that came about in far-out areas like Jasola, Netaji Subhash place later in the early 2000’s however, mainland Delhi was beginning to feel obsolete and short of supply with the kind of economic boom that our country is about to see in coming years. By mainland area, we mean locations that are within 10-15 Km from the airport and main CBD Connaught place. The most recent such development at Aerocity is now a raging success and almost all its inventory has been lapped up by top corporates within 1 year of its completion. We feel the NBCC Nauroji Nagar project has all the potential of taking this story further and becoming the highest-yield-earning commercial development in India yet! There are many reasons for which we feel so strongly about the project but here are the top 6 reasons why one should look at this property for long-term investment purposes or end/self-use.

Strategic Location:

Surrounded by some of the poshest residential colonies like Safdarjung Enclave, Munirka, Katwaria, Hauz Khas, Green Park, Chanakyapuri, Sarojini Nagar etc which will provide excellent housing options for employees that will fill up the commercial office development. The 25 Acre site project at Nauroji Nagar is located on the main ring road close to Safdarjang Hospital and adjoining the district center of Bhikaji Cama Place. Strategic location, on the main ring road of Delhi, which provides excellent connectivity from all parts of Delhi via roads and metro. No area in Delhi is more than 45 minutes from Narouji Nagar. Distance of only about 7 km from the international airport, Connaught place CBD again around 7 Km, North Block and south block only at about 5 KM make it an excellent location from a business point of view.

WTC Nauroji Nagar, Strategic Location

WTC Nauroji Nagar, Strategic Location
Gurgaon International Airport/Aerocity Business District Connaught Place central Business District Delhi High/Supreme court Area North Block & South Block Noida Delhi Cantt Chanakayapuri Diplomatic area ITT/JNU area

Gurgaon

Between 18-20 Km

International Airport/Aerocity Business District

Just 8-9 Km

Connaught Place central Business District

Just 9-10 km

Delhi High/Supreme court Area

Just 8-9 Km

North Block & South Block

Just 8-9 km

Noida

Just 15-17 Km

Delhi Cantt

Just 7-8 km

Chanakayapuri Diplomatic area

Just 3-4 KM

ITT/JNU area

Just 3-4 km

Super Area and Carpet Area:

Unlike most modern commercial office buildings, NBCC is claiming to provide over 75% efficient floor plates. This is a straight saving of over 15 – 20 percent compared to other similar modern buildings. Ground floor retail spaces does have slightly higher wastage and also a PLC cost over and above the base price.  More usable area means more value for your money on each square foot that your pay for.

Project Scale:

The commercial office space complex at Nauroji Nagar is spread on an impressive 25 Acre land parcel with over a staggering 3 million sq ft of built-up space. This size makes it in the top 10 projects across the globe in terms of the total sq ft offered in a single project. Bigger, undivided floor plates ranging between 26000 – 40000 sq ft on single floor level will attract big companies with deep pockets as tenants. Project also provides for a 3 level undivided basement which have over 8000 parking spots. 

Project Construction:

Construction quality is paramount for any development to have lasting legacy. NCC, which features consistently as one of India’s top 3 construction companies for many years now, has been trusted with the job and they enjoy a great working relationship with NBCC, since they have  already developed the Kidwai Nagar residential complex for them in a time bound and successful manner.  NCC has many commercial, residential, institutional buildings to its credit apart for major infrastructure projects in railways, electrical, mining, irrigation and environmental. 

Energy Efficiency:

The entire project itself is being developed as energy-efficient system that draws from and conserves nature to save operating costs. From recycled environment-friendly building material and equipment to efficient use of water, natural light, use of solar for partial electricity generation, water heating/cooling, motors and pumps equipped with variable frequency and speed drives, roof insulation to prevent heat gain into the building and many more such features naturally make it a low overhead cost building.

Price and rental yield:

The project is currently priced at around 37000/sq ft and based on our study of current comparable assets as well as some of the future development which will come about in 2020, we are certain that the property will be able to harness at least Rs 225-250/sq ft, which could go as high as 400/sq ft as the inventory dries up and we approach the project completion date. So even if we do the math on the lower side, a 235 rupee per sq ft rental at 37000/sq ft cost means an annualized return upwards of 7.5% for the investor. Property is freehold and thus there is good scope for capital appreciation too. We foresee project touching about 55-60K/sq ft within the first 3-4 years after completion certificate is obtained and transactions start taking place in secondary market. 

WTCA certification:

Last but not least the project has been successful in acquiring a world trade tower certification from the prestigious WTCA body, which is the hallmark of quality when it comes to top-quality office space development across the globe.

The only caution that we foresee in the project is that NBCC properties attract a lot of PSU’s, which are not very demanding in terms of overall maintenance of the asset, and often times the upkeep of NBCC properties is less than perfect. Having said that, this project has acquired the seal of WTC plus the project is also seen as an extension of Prime Minister Modi’s smart city development plan. NBCC being a prime government PSU would like to showcase this project as the centerpiece of the smart city development plan.

Who have bought space so far:

Its mostly top profit making PSU’s and govt bodies who have shown interest so far, because of its strategic location, another reason being the ticket size is fairly big. Some of the top entities that have bought area in NBCC World trade center include PFC, RVNL, HDFC, NIXI, TRAI, ITAT, NIUS, PFRDA, EESL, NPC, HPCL, NHIDCL, GS1 India, RITES have already bought space in excess of 1 million sq ft in total and a few individual investors who have bought smaller spaces. 

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3 million sq ft of Grade A commercial space in the heart of south Delhi means a lot not only for corporate’s who were facing hard time to find good quality office space but also for the state of Delhi, over the long run as it was beginning to lose a lot of revenue to its neighboring states.  Any state’s economic growth really depends on its ability to attract new industries and provide emerging companies with the dynamic types of spaces that they need to attract talent and expand within the city’s limits. Nauroji Nagar World Trade Centre by NBCC looks like will surely fill this void to an extent and provide a unique and highly desirable location for businesses to compete in an increasingly competitive global business environment.

Project Update in Sept 2021

Project Update in June 2022

Project Site plan

NBCC Nauroji Nagar Project Site Plan
Office Towers, Early Delivery Expected. Tower A Tower B Tower C Tower D Tower E Tower F Tower G Tower H Tower I Tower J Tower K Tower L

Office Towers, Early Delivery Expected.

B, C, D, E and F tower are slated for an early delivery by Oct 2022. Tower B and C are purely office spaces from top to bottom. Tower E and F will have dedicated retail space on ground and first floor, remaining floors for office purpose. 

Tower A

Pure office space tower from top to bottom, expected delivery by April 2023

Tower B

Pure office space tower from top to bottom, expected delivery by Oct 2022

Tower C

Pure office space tower from top to bottom, expected delivery by Oct 2022

Tower D

Ground and First retail, rest office space tower from top to bottom, expected delivery by Oct 2022

Tower E

Ground and First retail, rest office space tower from top to bottom, expected delivery by Oct 2022

Tower F

Ground and First retail, rest office space tower from top to bottom, expected delivery by Oct 2022

Tower G

Ground and First retail, rest office space tower from top to bottom, expected delivery by April 2023

Tower H

Ground and First retail, rest office space tower from top to bottom, expected delivery by April 2023

Tower I

Ground and First retail, rest office space tower from top to bottom, expected delivery by April 2023

Tower J

Pure office space tower from top to bottom, expected delivery by April 2023

Tower K

Pure office space tower from top to bottom, expected delivery by April 2023

Tower L

Pure office space tower from top to bottom, expected delivery by April 2023

Floor plans with area

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