Mumbai's Malad Area Sees Major Real Estate Deal with IT Park Sale
Property Ventures (India) Pvt Ltd sells IT Park in Mumbai's Malad area to Clear Bridge Ventures LLP for ₹335 crore
Mumbai Real EstateIt ParkMaladProperty VenturesClear Bridge VenturesRk MarblesReal Estate MumbaiAug 30, 2024
The IT Park, spread across an area of 1.96 acres, is located in the Linking Road area of Malad west. The transaction was registered on August 23, 2024, with a stamp duty of ₹21.85 crore paid for the deal. The IT Park is a ground-plus-six floors property with a total saleable area of 1.47 lakh sq ft and features 123 car parking spaces and six slots for vehicles.
This deal comes on the heels of another significant land transaction in Mumbai, where automobile manufacturer Mahindra and Mahindra Limited sold a 20.5 acres land parcel in the Kandivali area for ₹210 crore to Blueprintify Properties Pvt Ltd, a part of Pune-based real estate firm Rucha Group.
The land sold by Mahindra and Mahindra Limited is non-agricultural and is located in the Kandivali area, where the company has an automobile manufacturing facility.
According to a report by ANAROCK, a real estate consultancy firm, land transactions in India remained muted during the April to June quarter, with only 25 deals covering 325 acres closed during this period, mainly due to high prices and general elections.
In comparison, there were 29 land deals closed in the year-ago period, comprising 721 acres. The report also stated that of the total land deals closed in Q2 2024, over 17 deals for more than 163 acres have been proposed for residential developments.
\n\nAbout RK Marbles
RK Marbles is a leading marble and granite manufacturer and supplier in India. The company has been in the business for over three decades and has a strong presence in the Indian market.
\n\nAbout Clear Bridge Ventures LLP
Clear Bridge Ventures LLP is a real estate investment firm that focuses on acquiring and developing commercial and residential properties in India.
\n\nAbout Mahindra and Mahindra Limited
Mahindra and Mahindra Limited is an Indian multinational automobile manufacturing company headquartered in Mumbai. The company is one of the largest automobile manufacturers in India and has a significant presence in the global market.
\n\nAbout Rucha Group
Rucha Group is a Pune-based real estate firm that develops residential and commercial properties in India. The company has a strong presence in the Indian real estate market and has developed several notable projects in the country.
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 bought the IT Park in Mumbai's Malad area?
Clear Bridge Ventures LLP bought the IT Park.
What is the size of the IT Park sold in Mumbai's Malad area?
The IT Park is spread across an area of 1.96 acres.
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.
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