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Tata Investment Corporation buys two office spaces in Mumbai’s Wadala for 148 crore

Jan 23, 2025 05:51 PM IST

Mumbai real estate update: Tata Investment Corporation has purchased two office spaces in a building named Lodha Excelus

Tata Investment Corporation has purchased two office spaces measuring 42,743 sq ft in Mumbai's Wadala area for 148 crore, according to property registration documents accessed by CRE Matrix.

Mumbai real estate update: Tata Investment Corporation has purchased two office spaces measuring 42,743 sq ft in Mumbai's Wadala area for <span class='webrupee'>₹</span>148 crore. (Picture for representational purposes only)(Pexels)
Mumbai real estate update: Tata Investment Corporation has purchased two office spaces measuring 42,743 sq ft in Mumbai's Wadala area for 148 crore. (Picture for representational purposes only)(Pexels)

According to the Agreement for Assignment cum Sale, NCP Commercial Pvt Ltd has sold the two office spaces in a building called Lodha Excelus in the Wadala area of Mumbai.

The first office space on the 17th floor of Lodha Excelus is 21,441 sq ft and was purchased for 74.24 crore. It has 28 car parking spaces.

The second office space on the 22nd floor of Lodha Excelus, which is 21,302 sq ft and has 35 car parking spaces, was purchased for 73.75 crore.

Also Read: Apple India sets a benchmark with record rental deal, leases 6,526 sq ft space in Mumbai's BKC for 738 per sq ft

The documents showed that the transaction was registered on January 10, for which a stamp duty of 8.88 crore was paid. It has 63 car parking spaces.

An email query sent to Tata Investment Corporation did not get any response. At the same time, NCP Commercial Pvt Ltd could not be reached for comment.

Also Read: Hrithik Roshan rents out his office space in Mumbai's Goregaon for 5.62 lakh per month

The office building Lodha Excelus is located inside Lodha New Cuffe Parade, a township project by Macrotech Developers, also known as Lodha Group.

Wadala enjoys good connectivity with Bandra Kurla Complex (BKC), India's costliest commercial district, and South Mumbai. It is also well connected to highway networks for those wanting to travel to the western and eastern suburbs and Atal Setu for those travelling towards Ulwe, Panvel, Navi Mumbai, and Panvel.

Also Read: Mumbai real estate: 5 Bollywood stars who have sold, purchased or rented their properties in the New Year

Second BKC in Wadala?

The Mumbai Metropolitan Region Development Authority (MMRDA), which is the Special Planning Authority (SPA) of BKC, has a decade-old plan to convert a huge land parcel of Wadala Truck Terminal (WTT) into the city’s third CBD.

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