iYogi

The Need

Multinational technical support services group, iYogi Technical Services were operating from Gurgaon, using it as the base for their corporate office and wanted to start new support services operations for a particular business type. Over a brief meeting conducted in 2013, the thought of opening up this resource centre as an independent unit was discussed with RRPL. After initial discussions, iYogi wanted to evaluate options for leasing in the NCR region.

Project Details

• Property : Standalone Building, Sector 57, Noida
• Transaction Size : 50,000 sq.ft.
• Transaction Type : Leasing Services

Consideration Analysis

Upon understanding iYogi's preference for low recurring cost premises, RRPL provided a detailed comparison and cost benefit analysis of various regions across NCR. Several rounds of site inspections were organized for the proposed properties after which it was decided by iYogi to consider Noida as the preferred location. Within Noida, several prefurnished properties as well as bareshell properties were offered and evaluated, which could be furnished as per their requirements & specifications at effective rentals.

Transformation

After several days of search and detailed analysis some properties were shortlisted and a detailed comparison chart was laid down in front of iYogi management. It was proposed that a pre-furnished office space where iYogi would not have to incur the cost of furnishing and would get the premises on an immediate basis, should be chosen. Followings were the main highlight of the project delivered:

1. A pre-furnished office (plug & play) for iYogi

(a). iYogi to lease a premises, which is pre-furnished thus saving huge capital expenditure by them along with savings on time & effort.

2. Rental Advantage

(a). iYogi got an excellent pre-furnished facility at a rental of Rs. 24/sqft/month, which was the deciding factor in this transaction's favor.

(b). This rental was much below the ongoing market rentals and better than iYogi's own expectation at the start of this project.

3. Independent Standalone Building

(a). iYogi wanted to operate out of an independent facility as they would have round the clock operations and having a self sufficient team of experts to manage such facility was required.
As an outcome of this entire project, with an extensive search in a short span of time and after several round of negotiations with various shortlisted property owners, with the support and trust of iYogi management personnels, RRPL was able to lease to iYogi a fully fitted-out, ready to move-in office with all the facilities required at the price equivalent to warmshell rental.