There is one adventure that stands out from the rest of 32nd Avenue Milestone adventures and attractions. “The Galleries,” as it’s known. It is, without a doubt, the best commercial property to invest in right now in Gurgaon.
This commercial property was retrofitted at a cost of roughly Rs 25 crore by Milestone Ventures. To recreate the building as a particularly curated high-street destination with a selection of F&B (food and drinks) and premium brands, it enlisted the help of property consultancy CBRE South Asia as both a lease and marketing partner.
Building on the iconic statue of 32nd Milestone among the elder generation, we hope to reach out to the younger and more knowledgeable workforce here as well, and create fresh experiences that will last a lifetime,” said Dhruv Sharma, CEO of Milestone Ventures, in an interview with Economic Times.
Located on the national highway between Delhi and Jaipur. 32nd Avenue has a total area of 2.4 million square feet, of which “The Galleries” encompass 40,000 square feet. Focusing on giving a virtuoso experience that can only be found in a high-end location filled with luxury products on a “Avenue” in LA or Manhattan. Furthermore, the combination of “gourmet” and “luxury” purchasing is likely to be the most distinctive and one-of-a-kind trial to strike the Indian commercial sector.
This iconic, old-school hangout spot from our school days has undergone a significant overhaul. Mr. Dhruv Sharma has invited investors to participate in the market’s growth in exchange for “Fixed” rental income. Let’s get down to business, shall we?
Commercial Spaces that are both luxurious and pre-leased
The Galleries is a 40,000-square-foot boutique retail hub with an experiential focus. An avenue is a home to upper-class companies such as Rolex, Gucci, Armani, Hugo Boss, Yves Saint Laurent, Prada, and Swarovski, as well as the other 38 apartments that have already been pre-leased to more extravagant and expensive labels. Let’s not forget that it has already brought foreign names to Gurgaon and the NCR, such as The Piano Man, Green, and Carnatic Cafe.
Gurgaon’s Real Estate Industry’s Architectural Wonder
The Galleries, which were designed with the same visual ideals as 32nd Avenue, also honour the Aqua Theme’s fundamental elements, such as water, concrete, brass, brick, stone, and wrought iron, by fusing their simplicity into a classic and modern American architectural style. If a property is judged on its elegance and beauty, the Best field NSP will unquestionably outperform all of its current architectural designs. NSP portrays the advantages and elegance of modern India by combining the awe-inspiring regal touch with the energy of India’s capital city. This commercial project, which is the pride of North India, has features and amenities that are difficult to overlook. It is one of the largest mixed-use development projects because it is revolutionary and transformative in its objective and purpose. Its capacity to encompass luxury offices, retail stores, multiplexes, hypermarkets, restaurants, food outlets, and a variety of other exciting activities in a single geographical space is what makes it unique.
In addition to the foregoing, the calming sound of the waterfall will touch your soul and transport you to various levels of peace and happiness. The Galleries nicely compliments the traditional aesthetic of 32nd Avenue and wants to create a high-street retail experience.
The following are some of the reasons why investors should be interested in and purchase this commercial property:
1. First and foremost, the location and catchment areas of this location. Everyone can access 32nd Avenue, and everything from Metro stations to large hospitals like Max, Fortis, and others is only 15 – 30 minutes away, depending on traffic.
2. The architectural metalwork department of Andy Thornton provides the framework and ornamentation of “The Galleries.” The entry canopy of London’s The Rubens at the Palace was created by the team.
3. The Galleries caters to the client who is knowledgeable in food and beverage and wishes to take overseas travels. Such a mob has significantly more spending power than the ordinary middle-class person.
4.32nd Avenue is part of the 32nd Village development, which covers a 24-acre area. It contains offices, retail space, community activity centres, and a convention centre with a capacity of over 2,500 people.
5. This project tries to recreate a Khan Market feel in Gurgaon, and this type of concept is well-received by residents of Gurgaon and the NCR.
Moving on… 6. You will also be the proud owner of stores that have been pre-leased by brands such as Supreme, Swarovski, and others.
7. The price range begins at 2.68Cr. When we consider the type of product we’re getting and the type of revenue that product generates, the initial investment cost is quite modest. In addition, each business store on 32nd Street that is purchased has a value.
8. The 30-year lease term ensures that you will be financially secure even after you retire. As a result, investment in The Galleries now will pay off handsomely in the future.
9. The property is between 2.68 and 3.00 Cr. Depending on the floor on which you opt to invest. The ten percent PLC rate is now the lowest on the market! As a result, it’s incredibly simple to invest in commercial real estate on the market.
10. The guaranteed returns on this commercial property range from 1 to 3 lacs. Depending on the advantages of your store’s location, the rate at which its worth rises in the market, and so on.
Plans for the Future
Above all, 32nd Avenue is a gathering place that has attracted the best of the best in the industry. So you don’t have a lot of transaction space here. You don’t come here to eat KFC or purchase a fast medicine in the middle of the night; you come here to roam 120,000 square feet of lounge, to attend an event on the 25,000 square foot roof deck with an infinity pool, and to attend a community event on the garage’s lower ground floor.
It’s also a one-of-a-kind community place for Gurgaon and, more than likely, Delhi. Hopefully, “The Galleries” will be able to deliver the experience that we have gleaned from the descriptions.
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