Clear Bridge Ventures LLP Acquires ₹335 Crore Malad West IT Park in Major Real Estate Deal
Clear Bridge Ventures LLP has acquired the Fourth Dimension IT Park and surrounding land on Linking Road, Malad West, for ₹335 crore from Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles.
Real EstateClear Bridge Ventures LlpRk MarblesCre MatrixCredaiReal Estate MaharashtraAug 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 real estate market in India has been witnessing a steady growth, with positive homebuyer sentiment and steady demand keeping 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. CREDAI, Colliers, and Liases Foras are prominent real estate industry bodies that publish reports and research papers on the Indian real estate market.Clear Bridge Ventures LLP is an Indian Limited Liability Partnership (LLP) company incorporated on February 10, 2022. It is based in Mumbai and operates 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.RK Marbles is a prominent real estate company with interests in various sectors, including real estate development and construction.
Frequently Asked Questions
What is the value of the deal between Clear Bridge Ventures LLP and Property Ventures (India) Pvt Ltd?
The deal is valued at ₹335 crore.
What is the total area of the property purchased by Clear Bridge Ventures LLP?
The total area purchased is 1.95 acres.
What is the name of the real estate data analytics firm that provided insights on the deal?
CRE Matrix
What is the expected growth in housing prices across major Indian cities in Q2 2024?
Average housing prices are expected to grow by 3% quarter-on-quarter (QoQ) in Q2 2024.
What is the current unsold inventory level in the primary market of eight major cities in India?
There is 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.
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