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The success of commercial buildings is rarely accidental. Behind every thriving commercial property lies a complex ecosystem of investors, tenants, developers, and advisors working together to unlock value. In a city like Mumbai where real estate presents both opportunity and challenge, success is determined not just by location or capital, but by the ability to understand problems and solve them effectively.

The commercial real estate landscape demands strategy, trust, and long-term thinking. Identifying the right tenant and ensuring smooth operations are crucial for protecting and enhancing investor value.

Welcome to Crafting Bharat: Brand Ki Baat – Mumbai Edition, a podcast where we talk about brands, businesses and the people who build them from the inside out. In this engaging episode, host Kartik Chawla sits down with Rohan Sheth, Founder at Real Estate Advisory Firm Volney; for a conversation on building an investor focused model in commercial real estate, solving landlord challenges, and the evolving priorities of corporates choosing office spaces.

This series is proudly brought to you by NewsReach, India’s leading PR-tech platform, with Production Partner HT Smartcast; Gifting Partner Nanaji Natural and Beauty Partner Lakme Academy. Tune in for stories, insights, and inspiration!

Episode Link: https://youtu.be/betLDx5M-Pc?si=jHLTfRXydOmjA3eW

Edited Excerpts

How did you come up with Volney and develop an investor-oriented real estate model?

Rohan Sheth: I had worked with developers and real estate companies for nearly a decade and a half, so I was already familiar with the ecosystem. However, things changed when I faced a personal challenge.

I owned a small office space at the Trade Center, and it took me almost six to eight months to lease it out. That’s when I realized that if someone from the industry like me could take this long, it must be even harder for investors who do not fully understand how the real estate ecosystem works.

That realization led to the idea of creating an investor network model. Instead of approaching the market with just one small office, we decided to approach it collectively. I told other investors that instead of each of us offering a 1,000-square-foot office individually, we could combine our inventory and represent nearly half a million square feet together. Once you bring scale, the market begins to respond differently.

That strategy gradually evolved into Volney, which today manages nearly 2.7 million square feet of commercial real estate across multiple projects in Mumbai.

What differentiates Volney in a highly competitive, brokerage-driven market?

Rohan Sheth: There are already several large international commercial real estate brokerage firms in the market, along with thousands of smaller brokers. Instead of competing directly with them, we decided to find a gap in the ecosystem.

Major IPC companies like JLL, CBRE, Knight Frank, and Colliers are well established, and there are countless local brokers as well. We identified a niche in between and positioned ourselves as an investor network model.

We represent landlords and investors while also collaborating with both international and domestic brokers. More importantly, we take responsibility for managing the entire leasing process.

In many ways, we act as wealth managers for real estate assets. Our team is present within the building and oversees everything from tenant identification to maintenance and tenant requests. This allows landlords to sit anywhere in the world and remain confident that their asset is being professionally managed.

What factors do multinational companies consider today when selecting office spaces?

Rohan Sheth: Employee convenience has become one of the most important priorities. Companies prefer office spaces that are well connected through transportation and located within strong urban ecosystems.

Accessibility plays a key role. Corporates evaluate whether the office is close to railway stations, metro stations, or major roads. Along with connectivity, they also assess the surrounding infrastructure and safety levels.

We often receive extensive EHS (Environment, Health, and Safety) checklists focused on employee well-being. Buildings must comply with fire safety standards, emergency protocols, and even staff training requirements.

Workplace design has also become a major factor. Offices are no longer viewed merely as places to work. Companies want breakout areas, large cafeterias, natural lighting, and spaces where employees genuinely enjoy spending time.

Since employees spend nearly a third of their day at the workplace, organizations are increasingly investing in environments that enhance both productivity and well-being.

What is Volney’s long-term vision?

Rohan Sheth: Over the past five years, Volney has built a strong portfolio and network within Mumbai’s commercial real estate ecosystem. The next phase is focused on scaling and institutional expansion.

Today we manage approximately 2.7 million square feet of commercial portfolio. Over the next four to five years, we aim to grow this to nearly five million square feet.

Alongside expanding the portfolio, we are also working on strengthening our internal capabilities and expanding our network of investors. In the long term, we aspire to build a highly scalable business and eventually take the company public.

Commercial real estate is a business that, on the face of it, is all about deal-making; however, as the conversation above shows, the true key to success lies in problem-solving for investors, tenants, and businesses alike. From the importance of networking for investors to the value of a service-driven experience for property management, the approach outlined above is a reflection of the way the industry is slowly moving beyond the traditional brokerage-based business model.

As the urban environment continues to evolve and corporate needs change, the future of commercial real estate will be driven by those who are able to balance strategic and operational excellence. The conversations above are a glimpse of the ideas and decisions that are shaping the industry. Stay tuned for more such insights.

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