With an investment of Rs 225 crore, Monnet Group has recently forayed into real estate sector with a company called Galaxy Monnet. The company has launched two projects Magnum Tower and Magnum city centre in Delhi NCR.
"We have invested Rs 225 crore in Magnum Tower & Magnum city centre and we are also looking to invest on land bank for residential projects," said Galaxy Monnet Director, Rajeev Poddar.
"The shift today and expected in the future will be towards the commercial segment. The demand for quality offices, malls and high street retail complexes have emerged and developers have begun to cater to this growing demand," Poddar replied when asked by The Pioneer why only commercial segment.
"People looking for good returns from their investment constitute a major part in demand for commercial properties as returns are to the tune of 8 percent on their investment compared to return of 2 percent in residential properties." He added.
Talking about the expansion of the company, Rajeev Poddar said "We intend to launch high street retail, service residences & hospitality project by month end and also soon another commercial offering of premium offices spaces in NCR, both these projects are lined up to be launched by Sept thus enabling us to enter new verticals."