Virat Kohli Diversifies Portfolio: Leases 12 Offices in Gurugram
Indian cricket star Virat Kohli has strategically entered the commercial real estate sector, showcasing his investment prowess and expanding his portfolio. Kohli secured a prominent position by leasing a substantial office space in Gurugram’s Reach Comercia corporate tower in sector 68. This move added 12 office spaces to Kohli’s name, each commanding a monthly rent of ₹8.85 lakh, emphasizing the cricketer’s keen business acumen.
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Virat Kohli, the renowned Indian cricketer, expanded his investment portfolio by venturing into the commercial real estate sector. His latest move involved leasing 12 office spaces in the Reach Comercia corporate tower, situated in sector 68, Gurugram. The total leased area covered an expansive 18,430 sq ft, complemented by 37 parking spaces.
Documents accessed from CRE Matrix, a data analytics firm, revealed that Kohli’s office spaces commanded a monthly rent of ₹8.85 lakh. This lease, registered in June of the previous year, demonstrated Kohli’s commitment to diversifying his investments beyond the realm of cricket.
The specifics of the lease included a rate of ₹48 per sq ft as the starting monthly rent, accompanied by a provision for a 5% annual rent escalation. Common area maintenance charges amounted to ₹14 per sq ft per month. The lessee, Mynd Integrated Solutions Pvt Ltd, paid a substantial security deposit of ₹57.19 lakh.
The execution of the lease deed was facilitated by Kohli’s registered General Power of Attorney holder, Vikas Kohli, who is also his brother. Kohli’s residence in Mumbai is a noteworthy sea-facing four-bedroom apartment in Worli, acquired in 2016 for ₹34 crore.
While inquiries directed to Kohli’s manager remained unanswered, the cricketer and his wife, Anushka Sharma, shared the joyous news of the birth of their baby boy, named ‘Akaay,’ on February 20. In addition to his real estate ventures, Kohli and Sharma made headlines in 2022 for acquiring a land parcel of 3,350 sq m in Alibaug for ₹19.24 crore.
This strategic move into commercial real estate aligns Kohli with fellow cricketer Rohit Sharma, who recently leased two apartments in Mumbai’s Bandra West for ₹3 lakh per month for a three-year term, complete with a deposit of ₹9.3 lakh, as evidenced by the registered rent agreement on January 4, 2024.
Strategic Investment Move
In a strategic investment move, Virat Kohli has entered the commercial real estate sector by securing a significant lease agreement for a period of nine years. Orchestrated through his General Power of Attorney holder, Vikas Kohli, this long-term commitment underscores Kohli’s foresight and financial strategy.
The lease encompasses a sprawling 18,430 sq. ft. area within the Reach Comercia corporate tower in Gurugram, featuring 37 dedicated car parking spaces. Priced at a starting rent of ₹48 per sq. ft., this deal is more than just a real estate transaction; it signifies Kohli’s calculated investment decisions and mirrors the increasing prominence of Gurugram as a thriving corporate hub.
Notably, the agreement incorporates a rent escalation clause, ensuring a 5% annual increase. This feature adds a layer of financial foresight to the deal, promising steady and sustainable growth in investment returns throughout the nine-year period.
Comprehensive Lease Details
Mynd Integrated Solutions Pvt Ltd, the lessee in this strategic move by Virat Kohli, has secured the office space with a substantial security deposit of ₹57.19 lakh. The meticulously structured lease deed, finalized with careful consideration of stamp duty, registration fees, parking provisions, and common area maintenance charges of ₹14 per sq. ft. per month, was officially registered in June of the preceding year. This attention to detail underscores the complexity of commercial real estate transactions and the importance of thorough planning.
Kohli’s Expanding Real Estate Portfolio
Beyond his cricketing pursuits, Virat Kohli, alongside his wife Anushka Sharma, continues to make waves in the real estate realm. From a luxurious sea-facing apartment in Mumbai to a significant land parcel in Alibaug, Maharashtra, their diverse investments showcase a strategic approach to wealth management. This recent foray into Gurugram’s commercial real estate not only adds another dimension to their expanding portfolio but also underscores Kohli’s role as a discerning investor. As he extends his influence beyond the cricket pitch, Kohli’s entry into the real estate sector sets a noteworthy precedent for athletes exploring lucrative opportunities in India’s dynamic real estate market.
