Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, has recently sold a well-located IT Park in Mumbai’s Malad area to Clear Bridge Ventures LLP for a significant sum of ₹ 335 crore. This information was revealed in property registration documents accessed by CRE Matrix.
The IT Park, situated in the prime Linking Road area, offers a spacious six-story building with a total saleable area of 1.47 lakh square feet. It has 123 car parking spaces and six slots for vehicles. The property’s strategic location and ample parking facilities make it an attractive investment for businesses in the IT sector.
Transaction Details
Property Ventures finalized the sale of the IT Park on August 23, 2024, paying a stamp duty of ₹21.85 crore on the transaction. This significant deal underscores the strong demand for commercial real estate in Mumbai, particularly in well-connected and sought-after areas like Malad.
Market Significance
The sale of this IT Park highlights the thriving commercial real estate market in Mumbai. The property’s combination of prime location, ample parking, and substantial saleable area make it an attractive investment for businesses in the IT sector. This transaction further demonstrates the growing demand for high-quality commercial properties in the city.
» Explore commercial properties in Malad
Recent Transactions in Mumbai
The market for commercial real estate in Mumbai is expanding. There has been a notable increase in high-value transactions in the commercial real estate market, especially in the office space industry. This illustrates the city’s robust economic expansion and commercial significance.
In a recent transaction, Red Fox IT Infra LLP acquired office units in Marol for ₹ 267.5 crore. In another major corporate spaces deal, Nielsen Media and its subsidiary leased 1.52 lakh square feet of office space in Mumbai’s Goregaon.
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