Mumbai's Malad Area Sees Major Real Estate Deal: IT Park Sold for ₹335 Crore
Property Ventures (India) Pvt Ltd sells IT Park to Clear Bridge Ventures LLP for ₹335 crore in Mumbai's Malad area.
Mumbai Real EstateIt ParkMaladProperty Ventures India Pvt LtdClear Bridge Ventures LlpReal EstateAug 30, 2024
The IT Park, spread across an area of 1.96 acres, is located in the Linking Road area of Malad west. The property is a ground-plus-six floors building with a total saleable area of 1.47 lakh sq ft. It also has 123 car parking spaces and six slots for vehicles.
This deal is one of the major land transactions in Mumbai in recent times. In another deal, automobile manufacturer Mahindra and Mahindra Limited had sold a 20.5 acres land parcel in Mumbai's Kandivali area for ₹210 crore. The land was sold to Blueprintify Properties Pvt Ltd, a part of Pune-based real estate firm Rucha Group.
Land transactions in India have remained muted during the April to June quarter, with only 25 deals covering 325 acres closed during this period. This is mainly due to high prices and general elections, according to a report by ANAROCK, a real estate consultancy firm.
Of the total land deals closed in Q2 2024, over 17 for more than 163 acres have been proposed for residential developments. Agriculture, mixed-use development, data centers, logistics parks, industrial, and retail saw one deal each, the ANAROCK report said.
About Property Ventures (India) Pvt Ltd
Property Ventures (India) Pvt Ltd is a subsidiary of RK Marbles, a leading company in the marble and granite industry.
About Clear Bridge Ventures LLP
Clear Bridge Ventures LLP is a real estate investment firm that focuses on investing in commercial and residential properties.
About Mahindra and Mahindra Limited
Mahindra and Mahindra Limited is a leading Indian multinational automotive manufacturing corporation.
About ANAROCK
ANAROCK is a real estate consultancy firm that provides research and advisory services to clients in the real estate industry.
Frequently Asked Questions
What is the value of the IT Park sold in Mumbai's Malad area?
The IT Park was sold for ₹335 crore.
Who sold the IT Park in Mumbai's Malad area?
Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, sold the IT Park.
Who bought the IT Park in Mumbai's Malad area?
Clear Bridge Ventures LLP bought the IT Park.
What is the total saleable area of the IT Park?
The total saleable area of the IT Park is 1.47 lakh sq ft.
How many car parking spaces does the IT Park have?
The IT Park has 123 car parking spaces and six slots for vehicles.
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