JSW Group Acquires Massive Office Space in Navi Mumbai for ₹88 Crore
JSW Group has bought office spaces spanning 52,694 sq ft in Seawoods Grand Central, Navi Mumbai for ₹88.12 crore, as per property registration documents.
Office SpaceCommercial Real EstateNavi MumbaiJsw GroupLt RealtyReal Estate MumbaiJul 19, 2024
These entities include the infrastructure, cement, steel, and energy arms of the Group, as per property registration documents accessed through real estate data analytics platform Propstack. The seller in the big-ticket deal is named as L&T Seawoods Limited.
The transaction was registered on July 16, 2024, and attracted a stamp duty of ₹5.28 crore, as per details mentioned in the documents. The deal includes multiple units spread across three wings in Seawoods Grand Central, located in the upmarket locality of Nerul in Navi Mumbai. It also includes a parking space for 52 cars.
This deal is part of a growing trend of corporates buying commercial properties rather than opting to lease them. Commercial real estate experts say that larger corporates and business conglomerates, particularly from the technology and BFSI sector, having clarity over long-term real estate requirements, perhaps find it economically more viable to own commercial assets.
Information Seawoods Grand Central by L&T Realty is a transit-oriented development, including commercial, residential, and retail units. Global investment firm Blackstone-backed Nexus Select Trust owns and manages a million square feet of retail space in the campus.
L&T Realty is a leading real estate developer in India, known for its high-quality residential, commercial, and retail projects.
JSW Group is a Mumbai-headquartered conglomerate with interests in infrastructure, cement, steel, energy, and other sectors.
Propstack is a real estate data analytics platform that provides insights and data on property transactions and trends.
Frequently Asked Questions
Who bought office spaces in Navi Mumbai for ₹88.12 crore?
JSW Group
What is the total area of office spaces bought by JSW Group?
52,694 square feet
Who is the developer of Seawoods Grand Central?
L&T Realty
What is the stamp duty paid on the transaction?
₹5.28 crore
Why are corporates buying commercial properties instead of leasing them?
It is economically more viable for larger corporates and business conglomerates to own commercial assets, especially in the technology and BFSI sector.
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