I am enclosing the working of Pre-leased Option of a consulate office at Nariman point.
I would like to highlight some of the points which are as follows:-
1. This is held by Special Purpose Vehicle (i.e. Private Limited Company). The SPV is only holding this Commercial Unit & has no other business or liabilities. If the client buys in the SPV as the route of purchase, he saves STAMP DUTY 6%, TRANSFER CHARGES Rs.400/- per sq. ft. and Registration Charges.
2. There is a Tax planning benefit done in the company for the rental which he shall benefit from by buying it in the SPV route.
3. The lock-in period of the Consulate is till 2020 & for bank is till April 2016 with a built-in for 2 years more. They have informed us they will renew for 3 years now straight.
4. This commercial basement unit has a height of 18.5 ft. (The one of the largest in height in Nariman Point.).
5. The area of the Unit is 3232 sq. ft. Incoming rent is 3 lacs. Sale price 5.5 cr
For inspection you will have to tell me 4 to 5 days in advance. If you require any further clarification kindly get in touch with me.