NSE buys office space for Rs 80 cr | india | Hindustan Times
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NSE buys office space for Rs 80 cr

india Updated: May 13, 2009 02:06 IST
Lalatendu Mishra
Lalatendu Mishra
Hindustan Times
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In one of the biggest real estate deals since an economic downturn hit the nation, the National Stock Exchange (NSE), with its affiliates, is acquiring 56,000 square feet of office space at the 36-acre Kohinoor City project not far from NSE’s headquarters in the Bandra Kurla Complex at Mumbai’s Kurla area, for about Rs 80 crore.

While NSE has already acquired 28,000 sq ft space for Rs 40 crore, its group companies would purchase the rest shortly. “The competition to win this client was stiff. The location of our project was the main reason why NSE opted for us,” said Atul Modak, project head, Kohinoor City.

NSE has acquired the office space in one of the four commercial towers coming up at Kohinoor City at Rs 15,000 per sq ft. At peak rate the developer had sold office space for Rs 20,000 a sq ft.

The Kohinoor Group is controlled by former Lok Sabha speaker Manohar Joshi’s family.