Piramal Capital sells two office spaces in BKC for ₹110 crore

Piramal Capital and Housing Finance Ltd has sold two office spaces spanning 18,764 sq ft in TCG Finance Centre in Bandra Kurla Complex to TCG Urban Infrasturcture Holding pvt ltd for a sum of ₹110 crore.

MUMBAI

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Piramal Capital and Housing Finance Ltd has sold two office spaces spanning 18,764 sq ft in TCG Finance Centre in Bandra Kurla Complex to TCG Urban Infrasturcture Holding pvt ltd for a sum of ₹110 crore.

The company has purchased units 901 and 1001 on the 9th and 10th floor, each admeasuring 9,382 sq ft, of the TCG Finance Centre in Bandra Kurla Complex. The deal registered on March 28 and comes with 31 car parkings. The purchaser paid a stamp duty of ₹6.6 crore, according to documents accessed and released by CRE Matrix, a real estate data analytics firm.

Industry sources said this is a buy-back deal. Piramal Capital and Housing Finance Ltd, which was DHFL earlier, had purchased these units from the developer TCG Urban Infrastructure Holdings Pvt Ltd.

TCG Financial Centre is TCG Real Estate’s flagship project located in the main boulevard in G Block. Built in 2011, the LEED certified building commands an estimated rent of ₹280 to ₹330 per sq ft on the built-up area and is a prefered office destination of multinational companies, banks and consulates.