Clear Bridge Ventures LLP Acquires Prime Malad West IT Park for ₹335 Crore
Clear Bridge Ventures LLP has purchased the Fourth Dimension IT Park and surrounding land on Linking Road, Malad West, for ₹335 crore from Property Ventures (India) Pvt Ltd.
Real EstateClear Bridge Ventures LlpProperty Ventures India Pvt LtdRk MarblesCre MatrixReal EstateAug 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.
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.
Frequently Asked Questions
Who acquired the Fourth Dimension IT Park and surrounding land on Linking Road, Malad West?
Clear Bridge Ventures LLP acquired the Fourth Dimension IT Park and surrounding land on Linking Road, Malad West for ₹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 stamp duty paid by Clear Bridge Ventures LLP for the transaction?
Clear Bridge Ventures paid a stamp duty of ₹21.85 crore for the transaction registered on August 23, 2024.
What is the current trend in the residential market across major Indian cities?
According to the Housing Price-Tracker Report, positive homebuyer sentiment and steady demand have kept the momentum strong in the residential market across major Indian cities.
What is the expected trend in new launches and housing stock in prominent residential catchment areas?
As the festive season approaches, developers are likely to closely monitor new launches and overall housing stock in prominent residential catchment areas.
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