Mumbai's Malad Area Sees Major Real Estate Deal with IT Park Sold for ₹335 Crore
In a significant real estate transaction, Property Ventures (India) Pvt Ltd has sold an IT Park in Mumbai's Malad area to Clear Bridge Ventures LLP for ₹335 crore.
Mumbai Real EstateIt ParkMaladRk MarblesRucha GroupReal Estate PuneAug 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. The stamp duty paid for the transaction is ₹21.85 crore, according to the property registration documents.
The IT Park is a ground-plus-six floors property having a total saleable area of 1.47 lakh sq ft. It has 123 car parking spaces and six slots for vehicles, according to the documents.
In a recent land 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. The transaction was registered on July 24, 2024. The stamp duty paid for the transaction was ₹13.41 crore, the documents showed.
About RK Marbles
RK Marbles is a leading marble and granite manufacturer in India. The company has a strong presence in the construction industry and has supplied materials for various high-profile projects.
About Rucha Group
Rucha Group is a Pune-based real estate firm that has developed several residential and commercial projects in the city. The company is known for its innovative designs and commitment to quality.
Land transactions in India have 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, according to a report of ANAROCK, a real estate consultancy firm.
In comparison, there were 29 land deals closed in the year-ago period, comprising 721 acres. Of the total land deals closed in Q2 2024 (Apr.-June), 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.
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 stamp duty paid for the transaction?
The stamp duty paid for the transaction is ₹21.85 crore.
Who sold the 20.5 acres land parcel in Mumbai's Kandivali area?
Mahindra and Mahindra Limited sold the land parcel.
Related News Articles
Reviving Affordable Housing in India: Real Estate Sector's Plea to the Government
The real estate sector is seeking special schemes, tax breaks, and subsidies to revive the affordable housing segment in India, which has been struggling since the Covid-19 outbreak.
Tata Realty Secures Rs 825 Crore Funding for Cutting-Edge Green IT Park in Chennai
Tata Realty has secured Rs 825 crore from IFC to refinance its green commercial project in Chennai, Ramanujan Intellion Park, which boasts sustainable features and hosts thousands of professionals.
Suraj Estate Reports 88% Increase in Net Profit to Rs 31.8 Crore in Q2 FY25
NEW DELHI: Suraj Estate Developers, a prominent real estate firm, has reported a significant 88% rise in its net profit to Rs 31.8 crore in the second quarter of the fiscal year 2024-2025. This impressive growth is attributed to the company's successful c
Equity Investments in Real Estate Sector to Surpass $10-11 Billion in 2024: CBRE Report
According to the CBRE Report, equity capital inflows into the real estate sector have reached $8.9 billion between January and September 2024, marking a significant 46% year-on-year growth.
GRAP: A Temporary Solution to Delhi's Air Pollution Crisis
GRAP, or the Graded Response Action Plan, is an emergency measure to combat the severe air pollution in Delhi. However, there is a need for a more comprehensive and sustained policy to address the root causes.
Maharashtra CM Devendra Fadnavis Clarifies Cabinet Expansion Rumors
The Maharashtra Assembly Election 2024 saw a significant victory for the Bharatiya Janata Party (BJP)-led Mahayuti alliance. Chief Minister Devendra Fadnavis has since addressed the speculation surrounding potential cabinet expansion, providing clarity to