Piramal Capital and Housing Finance sells commercial property in Mumbai for ₹187 crore to Shoquba Realty

Mumbai real estate: The transaction for property spread across an area of 77,079 sq ft was registered on September 26, according to the documents

Piramal Capital and Housing Finance Limited has sold a commercial building along with the land asset spread across an area of 2,034 sq m for ₹187 crore to Shoquba Realty Private Limited in Santacruz area of Mumbai, according to property registration documents accessed by Propstack.

Piramal Capital and Housing Finance Limited has sold a commercial building along with the land asset spread across an area of 2,034 sq m for ₹187 crore (Picture for representational purposes only)(Pixabay)

The sale transaction formalised through a deed of conveyance on September 26, 2024 includes a 77,079 sq ft commercial asset.

The transaction includes two basement floors, one stilt floor, three podium floors, and eight more floors, the documents showed.

The stamp duty paid for the transaction is ₹11.22 crore. A registration fee of ₹30,000 was also paid, the documents showed.

Piramal Enterprises, in a regulatory filing earlier, had stated that Piramal Capital & Housing Finance Limited (‘PCHFL’), a wholly-owned subsidiary of the Company has sold its immovable property comprising of land and building situated at Santacruz East,

Mumbai for a total consideration of ₹187 crore.

“The land and building was sold to Shoquba Realty Private Limited (‘Purchaser’) vide Deed of Conveyance dated 26th September, 2024 entered into between PCHFL and the Purchaser (‘Transaction’),” the company had informed in a regulatory filing.

Shoquba Realty Private Limited could not be reached for a comment.

Mumbai's top property deals

In a similar recent transaction, Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, had sold an IT Park in Mumbai's Malad area to Clear Bridge Ventures LLP for ₹335 crore in August, according to property registration documents accessed by CRE Matrix.

The IT Park is spread across an area of 1.96 acres and is located in the Linking Road area of Malad West. It is a ground-plus-six floors property having a total saleable area of 1.47 lakh sq ft. It has 123 car parking spaces and six slots for vehicles, according to the documents.

In July 2024, automobile manufacturer Mahindra and Mahindra Limited had sold a 20.5 acre land parcel in Mumbai's Kandivali area for ₹210 crore, according to property registration documents by CRE Matrix.

The land was sold to Blueprintify Properties Pvt Ltd, a part of Pune-based real estate firm Rucha Group, according to the documents.