UK Consulate buys office space in Mumbai’s Lower Parel area from Lodha Group for ₹101.2 crore - Hindustan Times
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UK Consulate buys office space in Mumbai’s Lower Parel area from Lodha Group for 101.2 crore

Jun 10, 2024 06:45 PM IST

The UK Consulate has bought 12 office units from Macrotech Developers Ltd in the project One Lodha Place in Lower Parel, Mumbai, for ₹101.2 crore

The UK Consulate has 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, documents accessed by Propstack showed.

The UK Consulate has 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 <span class='webrupee'>₹</span>101.2 crore (Representational photo) (Photo by Anshuman Poyrekar/Hindustan Times)
The UK Consulate has 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 (Representational photo) (Photo by Anshuman Poyrekar/Hindustan Times)

The Office of the Secretary of State for Foreign Commonwealth and Development Affairs of the United Kingdom of Great Britain and Northern Ireland has bought office spaces in One Lodha Place in Mumbai for 101.2 crore, the documents showed.

The total area of the 12 office units located on the 19th floor of the tower is 14,883 sq ft (carpet area), the documents showed. One Place Commercial Private Limited is part of Macrotech Developers, the listed entity of Lodha Group.

Also Read: Office market surges to 16.2 mn sq ft transactions in Q1 2024; Residential sector keeps pace with sale of 86,345 units

The sale deed was registered on May 28, 2024, the documents showed.

The property comes with 14 car parkings, the documents showed.

A stamp duty of 100 has been paid for the transaction. This is because diplomatic missions/consulates/embassies are exempted from stamp duty under the Maharashtra Stamp Act 1958.

Also Read: Office buildings in Mumbai’s Bandra Kurla Complex command higher prices than Manhattan

The documents attached with the sale deed showed that the British High Commission has purchased the new office on the 19th floor of One Lodha Place in Lower Parel, Mumbai, to relocate the British Deputy High Commission, Mumbai from its current location at Naman Chambers in Bandra East.

A BHC spokesperson said that "We have purchased new office space at One Lodha Place, reflecting the importance the UK places in Mumbai as the financial and business capital of India. This investment underscores our ongoing commitment to further strengthen the UK-India bilateral relationship."

Queries have been sent to the Lodha Group. The story will be updated once a response is received.

Also Read: Not in 'rat race' to be top builder in terms of sale bookings: Macrotech Developers MD

One Lodha Place is strategically located on Senapati Bapat Marg in the city's prime business district. The tower is 10 min drive from Worli Sea Link. It is at walking distance from Lower Parel station and a short drive from Mahalaxmi station, the real estate company's website showed.

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