Kolkata:
Bank plans to bring its corporate offices in Kolkata under one roof State Bank of India, the country's largest public-sector lender, is looking for a 1 lakh sq ft property between JL Nehru Road and Park Street in Kolkata as part of a plan to bring its corporate offices in the city under one roof.
It has shortlisted two properties, Standard Chartered building on the crossroads of NS Road and Reliance House on Chowringhee Road, and Prasad Group's upcoming office space project on AJC Bose Road, from among seven applicants after floating tenders.
“We have taken up title investigation for all the three properties and once the price bid is sorted at the end of this month we will be in a position to assess the best deal,“ said SP Chatterjee, assistant general manager, premises, SBI Kolkata.
All of the state-run bank's zonal and regional offices currently function out of rented properties.
“To acquire a building and operate from under one roof is being done to reduce long-term costs that the bank spends on rentals,“ elaborated Chatterjee.
About 250 employees from the bank's rented zonal and regional office will be expected to shift to the new corporate office. The bank will finalise the deal by the end of this fiscal and begin operations in the new property after necessary renovations. While the five-storey Reliance House spreads over 1.10 lakh sq ft, the Standard Chartered building dating back to the 1850s is a heritage property located in BBD Bagh area in the city's central business district.
The bank is looking at acquiring a modern facility with latest amenities, albeit at the right price.
“Given the area of Reliance House the existing market value of the building would be between `15,000 and .. `18,000 sq ft, while NS Road office space is priced at `13,000-15,000 per sq .ft,“ said Champalall Baid, director at Champalall and Co, a city-based real estate firm, one of the seven bidders. Gopal Prasad, director at Prasad Group, said his company has an advantage over the other two properties.
“We have an added advantage over the other two properties because we have sufficient parking and the building will be completed in the next two months and can accommodate adjustments according to the requirements of the bank,“ said Prasad.
The market value of the 1.3 lakh sq ft property is said to be close to . 13,000 per sq ft.`
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