TES history: How we became Sole-Selling agents

August 12, 2020

From Pre-Independence Time, Lower Parel has always had Industrial Activity; namely a lot of textile mills like Dhanraj Mills, Sun Mills, Todi Mills, Kamala Mills, Ambika Mills, Raghuvanshi Mills, Phoenix Mills, Dawn Mills etc.

Around the 1970s, these Mills were finding it hard to stay afloat due to labour issues and hence were shutting down. However, the land parcel was huge. Parel and Lower Parel area was given the I3 zone (industrial or manufacturing zone) by then, hence the plausible option was to convert this into small scale industrial/commercial spaces. The first few old Industrial Estates were AtoZ Estate, Adhyaru Industrial Estate, Vassan, Sun, Kewal Estate etc. Nevertheless, it came with its own issues.

Mr. Dayaram Thaker, founder of Thaker's Estate Services (TES), was well aware of the complicated situations of this area and had become a specialist in helping Mills to become commercially viable industrial Estates.

In 1979, a premium industrial estate was announced, one of the last one in this area, which would have a total square footage of 6,00,000 or 600 units of varying sizes from 600 to 1500 sq.ft., which could house small scale industries like garments, printing, light engineering, plastic manufacturing etc.

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The sole-selling rights of this were awarded to TES by Mr. Sukhraj Nahar of the reputed Nahar Builders.

The entire inventory of 6, 00,000 sq. ft was completely built and sold by 1992.

In 1981, Mr. Sumermal Shah, partner of Shah and Nahar Estates, awarded the sole-selling rights of Shah and Nahar, Worli, an upcoming Industrial Project, to TES. This had a total square footage of 1,00,000 or 120 units of varying sizes from 600 to 1200 sq. ft.

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The project was constructed and sold by 1988.

Subsequently, Mr. Sumerlal Shah, Founder of Sumer Developers, also awarded the sole-selling rights of a prestigious office complex project, Nirman Kendra at Mahalaxmi, overlooking the Race Course at E. Moses Road to TES in 1985. This was a total of 1,20,000 sq.ft or 150 office spaces. This was constructed and sold by 1991.

This is how TES began.

From being humble real estate brokers to becoming sole-selling agents/underwriters for major industrial and commercial projects, laying a strong foundation at Lower Parel, which still remains.

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