Famous real estate property 'Cadbury House' to move its head office to Thane

Cadbury residence, an well known property of India Inc and the common milestone to sign an access to South Mumbai, is on the wedge.

 

An organization representative said the shift to transfer its headquarters to a "more appropriate area" was aspect of the organization's program to combine its developing labor force and develop an workplace for the long term. But three older authorities of Mondelez informed ET, on the issue of being anonymous, that the shift was element of a worldwide program to decrease rates, and push income from the sale of leading real estate properties into the organization.

None Kripalu or the organization representative pointed out the brand new area of the head office. But the authorities who spoke to ET said the organization was thinking about Real Estate Thane, a Mumbai suburb. Mondelez, they add, owns a few acres of property in Thane, and has wanted authorization to develop a tower to residence its workplaces, and a investigation and improvement centre.

Cadbury House – called by its initial operator, Cadbury, the actual organization that Mondelez's parent Kraft acquired in 2010 - is distribute over a acre plot of property on Pedder Road, simply reverse the Malalaxmi Temple. Possess by Cadbury in 1955 and restored in 2001, the white, art deco building includes two constructions: a two-varied business office and an eight-storied residential mass that is residence property to several senior authorities, which includes non-professional chair person CY Pal, Kripalu and the company's board of directions.

Based to a South Mumbai property agent who didn't want to be titled, the property parcel on which Cadbury House is developed will have improvement prospective of about 100,000 sq ft under the new guidelines and can retrieve close to 300 crore.

Cadbury, with a 70% share of the chocolates industry in India, was integrated in India on July 19, 1948. In 1955, the organization purchased and shifted into Cadbury House. This constructing has, over the years, come to possess emotional benefit.

 

Bharat Puri, the previous MD of Cadbury India and now older vice-president of the worldwide chocolate group of Mondelez International, once told ET how college kids cherished to stroll in from one door of the compound, look at the building that made their beloved chocolate manufacturer and go walking out from the other door. The organization had even advised the safety personnel to let the kids be. Shortly, it seems, a noticeable real estate property will have a new identification.