E-Paper
ICICI Prudential AMC purchases commercial office space in Mumbai's Santacruz for ₹315 crore
The commercial office space in Mumbai comprises 12 floors and has been sold along with 1,464 sq m of land and 114 car parks, documents showed
ICICI Prudential Asset Management Company Limited has purchased 1,464 sq m of land along with a commercial space comprising 12 floors spread across an area of 63,000 sq ft in Santacruz East, near Mumbai International Airport, for ₹315 crore, according to documents accessed by FloorTap.com
The commercial space along with the land was sold by Ixora Properties Pvt Ltd of the Kalpataru Group, a Mumbai-based real estate developer, according to the documents.
The transaction was registered on June 27, 2024, for which a stamp duty of over ₹18 crore was paid, documents showed.
The commercial office building was sold along with 114 car parking spaces, documents showed.
A query sent to Kalpataru and ICICI Prudential Asset Management Company Pvt Ltd did not get any response.
Commercial office deals in Mumbai real estate market
In May 2024, the UK Consulate had bought 12 office units from Macrotech Developers Ltd, which operates under the Lodha brand, in the project One Lodha Place in Lower Parel, Mumbai, for ₹101.2 crore.
Also read: UK Consulate buys office space in Mumbai’s Lower Parel area from Lodha Group for ₹101.2 crore
In October 2024, Kinnteisto LLP,a company run by Rekha Jhunjhunwala, had bought over 1.94 lakh sq ft of commercial office spaces in the Bandra Kurla Complex (BKC) that is also known as India's costliest commercial district, and Chandivali area of Mumbai for around ₹740 crore.
This was one of the largest commercial deals in the recent past. The seller in the case of the Chandivali deal was Kanakia Spaces Realty Pvt Ltd, which had sold 68,195 sq ft carpet area for ₹137.99 crore. The deal was inclusive of 110 car parking slots in the Boomerang building, according to the documents.
The BKC deal included 1.26 lakh sq ft of built-up area across four floors in the building named The Capital. The deal was for around ₹601 crore and came with 124 parking slots. The seller was Wadhwa Group Holdings Pvt Ltd, the documents showed. Both the deals were registered in October 2023.
Also read: Highest rental deal in BKC? IMC India leases commercial office space in Mumbai for ₹700 per sq ft
Bollywood stars invest in commercial real estate
Bollywood stars such as Amitabh Bachchan, Ajay Devgn, Sara Ali Khan, Kartik Aaryan, Manoj Bajpayee, have all invested in commercial properties.
Also read: From Karishma Kapoor to Amitabh Bachchan, here’s why Bollywood stars prefer to invest in commercial properties
On June 20, 2024, Amitabh Bachchan registered three office units in Signature building of Mumbai for around ₹60 crore. The Bollywood star paid ₹59.58 crore for three office units, cumulatively measuring 8,429 square feet in area, registration documents showed.
