ICICI Prudential Asset Management Company Limited has made a significant investment by purchasing the Kalpataru Infinia building in Santacruz East, Mumbai, for Rs 315 crore. The transaction details were obtained from FloorTap.com.
Deal Overview
As per the documents accessed, the building has 12 stories, a ground level, and three basements. Ixora Properties Pvt Ltd was the seller of the property. ICICI Prudential signed the transfer deed for the commercial property on June 27, 2024, and paid Rs 18.9 crore in stamp duty for the deal.
Property Specifications
The total area under the deal is 63,733 square feet and the property includes 114 parking slots for cars. The deal also includes the land’s cost, which significantly increases the transaction’s worth.
About ICICI Prudential AMC
One of the major companies in the Indian mutual fund market is ICICI Prudential Asset Management Company Limited. In the mutual fund industry, the AMC oversees a sizeable amount of Assets under Management (AUM).
Along with providing international advisory mandates for clients in foreign markets in asset classes like debt, equity, and real estate, the AMC also serves investors dispersed around the nation. Additionally, it offers portfolio management services, catering to a wide range of investment needs.
Recent Transactions in Mumbai
This is the most recent in a series of high-profile commercial real estate deals that Mumbai has witnessed recently. Other commercial real estate transactions in Mumbai’s past include Unity Small Finance Bank’s purchase of several floors in a Santacruz East commercial building for a total of Rs 227 crore. The building’s entire area measured over 70,000 square feet.
In another significant transaction, Tata Digital Private Limited (TDPL) renewed the lease on its headquarters at Fort House in Mumbai for a monthly rent of Rs 3 Cr.
FloorTap connects you with commercial real estate stakeholders for effective decision-making, regardless of your role as a broker, tenant, or landlord.
