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
Maharashtra Lok Sabha Elections: Onion Growers' Plight Led to Mahayuti's Downfall
Maharashtra Deputy Chief Minister Ajit Pawar attributes the poor performance of the Mahayuti alliance in the recent Lok Sabha elections to the dissatisfaction among onion growers in the state.
Luxury Residential Market Remains Strong, Says DLF
India's largest real estate developer, DLF, reports no slowdown in luxury residential market, despite removal of indexation benefits in budget.
Real Estate Sector Shows Steady Growth: High-End Residential and Commercial Spaces Lead the Way
The real estate sector is witnessing a steady performance, driven by strong demand in high-end residential sales and consistent leasing activities in commercial spaces.
Luxury Flats Above Rs 5 Crore Witness 80% Growth in 2024: Top 7 Cities Lead the Surge
In 2024, around 302,000 housing units were launched, marking the highest annual residential supply across India's top 7 cities. The luxury segment, priced above Rs 5 crore, saw an impressive 80% growth compared to 2023.
Industry Reactions to the 2025-26 Budget: Construction and Real Estate Sectors
The 2025-26 Budget has received a mix of positive and constructive feedback from the construction and real estate sectors. These progressive reforms align with India's vision for sustainable growth and development.
Naredco Hails Urban Development and Revenue Reforms in India
The National Real Estate Development Council (Naredco) has lauded the recent urban development and revenue reforms in India, stating that these initiatives are poised to significantly boost the real estate and infrastructure sectors.