Strata, a tech-enabled commercial real estate (CRE) investment platform, on Wednesday announced its strategic partnership with India Land and Global Group, two of Maharashtra's commercial developers. Through this partnership, Strata is planning to raise Rs 150+ crore in phase 1 for a Grade-A office asset in Pune's Hinjewadi.

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"This strategic partnership with two key developers in the commercial real estate segment will enhance Strata's presence across Maharashtra and Southern India in the coming year. India Land and Global Group own multiple commercial properties spread across Maharashtra and Tamil Nadu," Strata said.

Phase 1 of the Pune property is located in Hinjewadi, covering an area of 120,000 square feet. It is expected to offer an Internal Rate of Return (IRR) of 12-13 percent and a rental yield of 8-9 percent.

In conjunction with IndiaLand, the Global Group is an industrial construction group specialising in areas, including industrial park development, built-to-suit lease options, land acquisition, project management, and warehouse logistics.

Salaikumaran, CEO, IndiaLand, commented, “This partnership will help us extend investment avenue to a larger investor pool and participate in their overall growth journey. This asset marks just the beginning of what we aim to introduce in the market in the near future."

Harish Hingorani, Executive Director Global Group added, "This alliance is a significant step in opening the doors to larger retail investment in such a technical and closed-door sector."