SBI Funds Management Buys Prime Office Spaces in Mumbai's BKC for Rs 103 Crore
SBI Funds Management, the asset management company of SBI Mutual Fund, has purchased two office properties in Mumbai’s Bandra-Kurla Complex (BKC) for Rs 103 crore.
Sbi Funds ManagementMumbaiBkcOffice SpacesReal EstateReal Estate MumbaiSep 28, 2024
Along with the office spaces, SBI Funds Management will receive 1.92 per cent ownership rights in the common areas and facilities of the building. Additionally, the deal grants the company exclusive access to 12 car parking slots in the tower.
The transaction was registered on September 6, 2024, according to documents accessed through realty data analytics firm Propstack. The purchase was made from DKJ Shelters Private Limited. A stamp duty of Rs 6.18 crore and a registration fee of Rs 30,000 were paid for the deal.
SBI Funds Management manages various investment products, including pension funds, mutual funds, exchange-traded funds (ETFs), and alternative investments.
In October 2023, Kinnteisto LLP, the firm owned by Rekha Jhunjhunwala, wife of the late Rakesh Jhunjhunwala, bought over 1.94 lakh sq ft of office space in Mumbai's Bandra Kurla Complex (BKC) and Chandivali areas for about Rs 740 crore, according to documents from Propstack.
BKC is a prime business district in Mumbai, housing several important government offices such as the GST office, Reserve Bank of India, and Income Tax Department. It is also home to multinational companies like Jio, Apple, Netflix, Google, Facebook, Amazon, National Stock Exchange, Standard Chartered Bank, Pfizer, and many more.
About SBI Funds Management SBI Funds Management is the asset management company of SBI Mutual Fund, one of the largest mutual fund companies in India. The company manages a wide range of investment products, including pension funds, mutual funds, exchange-traded funds (ETFs), and alternative investments.
About Propstack Propstack is a realty data analytics firm that provides data and analytics on commercial and residential real estate markets in India.
Frequently Asked Questions
How much did SBI Funds Management pay for the office spaces in BKC?
Rs 103 crore
What is the total carpet area of the office spaces purchased by SBI Funds Management?
15,176 sq ft
Who is the seller of the office spaces purchased by SBI Funds Management?
DKJ Shelters Private Limited
What is the value of the property per sq ft?
Rs 67,870 per sq ft
What are the other notable offices in BKC?
Kinnteisto LLP, Wadhwa Group Holdings Pvt Limited, Jio, Apple, Netflix, Google, Facebook, Amazon, National Stock Exchange, Standard Chartered Bank, Pfizer, and many more.
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