Clear Bridge Ventures Acquires Malad West IT Park for ₹335 Crore in Major Real Estate Deal
Clear Bridge Ventures LLP has purchased all pieces and parcels of land along with IT Park at Fourth Dimension in Linking Road, Malad West for ₹335 crore.
Real EstateMumbaiClear Bridge VenturesProperty VenturesRk MarblesReal Estate MumbaiAug 30, 2024
Clear Bridge Ventures, an Indian Limited Liability Partnership (LLP) company, was incorporated on February 10, 2022, and is currently active. It is based in Mumbai, operating under the jurisdiction of ROC Mumbai. The LLP is involved in the business of real estate, renting and business activities, with its registered office in Kandivali.
The Indian real estate market has been witnessing a steady growth in the recent quarters. According to the Housing Price-Tracker Report for the second quarter published by CREDAI, Colliers and Liases Foras, positive homebuyer sentiment and steady demand have kept the momentum strong in the residential market across major Indian cities. Average housing prices across the top eight Indian cities witnessed a 3% quarter-on-quarter (QoQ) growth in Q2 2024.
Interestingly, quarterly price movements at India level have been almost similar at about 3% for the last four quarters. The stability in price growth is reflective of steady underlying demand over the last few quarters. On an annual basis too, average housing prices at the end of Q2 2024 have shown a 12% growth across the eight major cities.
While unsold inventory remained stable on an annual basis at a pan India level, it dropped marginally on a quarterly basis amid healthy sales in housing units. As of Q2 2024, there was an availability of over 10 lakh housing units across the primary market of eight major cities, with Mumbai Metropolitan Region (MMR) alone having about 40% share in unsold inventory levels.As the festive season approaches, developers are likely to closely monitor new launches and overall housing stock in prominent residential catchment areas, the report stated.
CRE Matrix is a real estate data analytics firm that provides insights and analysis on the Indian real estate market.Clear Bridge Ventures LLP is an Indian Limited Liability Partnership (LLP) company involved in the business of real estate, renting and business activities. Property Ventures (India) Pvt Ltd is a subsidiary of RK Marbles, a leading player in the Indian marble industry.CREDAI, Colliers and Liases Foras are leading real estate associations and consultancies that provide research and analysis on the Indian real estate market.
Frequently Asked Questions
What is the total area purchased by Clear Bridge Ventures?
1.95 acres
What is the stamp duty paid by Clear Bridge Ventures for the transaction?
₹21.85 crore
What is the business of Clear Bridge Ventures LLP?
Real estate, renting and business activities
What is the growth rate of average housing prices across top eight Indian cities in Q2 2024?
3% quarter-on-quarter (QoQ) growth
What is the share of Mumbai Metropolitan Region (MMR) in unsold inventory levels?
About 40%
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