Windsor Realty Consolidates Ownership of Santacruz Commercial Tower for Rs 283 Crore

Mumbai: Real estate developer Windsor Realty has made a significant move in the commercial property market by acquiring office properties spread over 42,340 sq ft in a commercial tower located in Mumbai’s Santacruz locality, near the business district of Bandra-Kurla Complex. The total acquisition cost for these properties stands at Rs 283 crore, achieved through a series of strategic transactions.

The acquisition involved the purchase of commercial units from various corporate entities, including Prism Johnson Ltd, and from the developer's partner. This consolidation brings the entire asset under a single ownership, streamlining control and management of the property.

Prism Johnson, a listed company, sold its property, which spans a carpet area of 25,984 sq ft, for nearly Rs 166 crore. Documents accessed through the realty data analytics platform Propstack revealed this to be the largest among the recent transactions. Prism Johnson had secured its board of directors’ approval for the sale on December 18, as indicated in a regulatory filing.

According to property consultants, the consolidation was a strategic move to simplify the ownership structure of the commercial asset, which had been held by multiple entities. Such consolidation is aimed at achieving a clearer title, enhancing operational efficiency, and providing greater flexibility for future decisions.

Stamp duty and registration documents show that the deals were executed through separate agreements on December 19. Despite efforts to seek comments, ET’s email query to Windsor Realty remained unanswered until the time of going to press.

Mumbai’s commercial real estate market has witnessed a steady flow of large-ticket transactions over the past year, driven by the recovery of office leasing and sustained investor interest in income-generating assets. Industry experts expect consolidation-driven deals to continue, particularly for older assets held across multiple ownership structures. This trend underscores the growing trend of rationalizing property portfolios to maximize value and operational effectiveness.