SAM Legal Advises Shoden Developers on Major Property Acquisition in Andheri, Mumbai

Shardul Amarchand Mangaldas & Co. (SAM) acted as the legal advisor to Shoden Developers Private Limited (part of the Hiranandani Group) in relation to its acquisition of a property in Andheri, Mumbai. This strategic move is part of the Hiranandani Group's ongoing efforts to expand its presence in the commercial real estate sector.

As part of this transaction, SAM provided comprehensive legal advice, covering all aspects of the acquisition. This included conducting thorough title due diligence to ensure the property's legal status was in order, as well as drafting, negotiating, and finalizing the transaction documents. The property in question is a land parcel measuring approximately 1 acre, along with a commercial building located in Andheri, Mumbai.

The Hiranandani Group, a prominent name in the Indian real estate market, plans to develop a premium commercial tower on the site. This project is expected to involve an investment of approximately INR 500 crores and will provide a total leasable area of around 400,000 square feet. The development is anticipated to become a landmark in the area, attracting businesses and enhancing the commercial landscape of Andheri.

The SAM transaction team was led by Bhoumick Vaidya, Partner, with significant contributions from Harshini Kotecha, Principal Associate; Yash Bhansali, Associate; and Nishikaa Kanakia, Associate Trainee. Their expertise and dedication ensured that the transaction was completed smoothly and efficiently, adhering to all legal and regulatory requirements.

This acquisition underscores the Hiranandani Group's commitment to investing in high-potential real estate projects in strategic locations. Andheri, known for its rapid urbanization and growing business district, is an ideal choice for such a development. The group's plans to develop a premium commercial tower will not only add value to the property but also contribute to the economic growth of the region.

In conclusion, the successful completion of this transaction, with SAM's expert legal support, marks a significant milestone for Shoden Developers and the Hiranandani Group. It sets the stage for a promising future in the commercial real estate sector, with the potential to create a new benchmark in property development in Mumbai.