{"id":1784,"date":"2024-12-06T07:20:51","date_gmt":"2024-12-06T07:20:51","guid":{"rendered":"https:\/\/www.floortap.com\/resources\/?p=1784"},"modified":"2024-12-12T05:58:08","modified_gmt":"2024-12-12T05:58:08","slug":"k-raheja-corp-purchases-two-sobo-properties-in-mumbai-for-%e2%82%b9355-cr","status":"publish","type":"post","link":"https:\/\/www.floortap.com\/resources\/k-raheja-corp-purchases-two-sobo-properties-in-mumbai-for-%e2%82%b9355-cr\/","title":{"rendered":"K Raheja Corp Purchases Two SOBO Properties in Mumbai for \u20b9355 cr"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">K Raheja Corp, one of the leading real estate developers in India, has added two prime properties to its list. The company has cracked two big deals in South Mumbai &#8211; Bayside Mall and Popular Press Building in the posh locality of Tardeo according to the documents accessed by <a href=\"https:\/\/www.crematrix.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CRE Matrix<\/a>. The deal valued at more than \u20b9355 crore marked another expansion for the company. They plan to construct a luxury residential project on the acquired land.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Transaction Details<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The purchase was made through Ivory Property Trust, a subsidiary of K Raheja Corp, from Jaydev Mody-led AAA Holding Trust. The deal was finalized on August 13, with a stamp duty payment of \u20b921.30 crore. The transaction involved staged payments, including an initial \u20b9120 crore during registration, a second tranche of \u20b9120 crore on August 22, and a final tranche of \u20b9115 crore.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Property Details<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Bayside Mall, one of India\u2019s early shopping destinations, spans a total built-up area of 17,345 sq. ft. across a basement, ground, and two upper floors. It was originally designed as a community-focused shopping hub in the late 2000s, offering utility-driven retail experiences. The property occupies over one-third of an acre in Tardeo and has evolved to maintain its niche appeal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adjacent to Bayside Mall, the Popular Press Building adds historical significance to this acquisition. The structure, spanning more than one-fourth of an acre, features a ground-plus-two-story configuration, further enhancing the landholding potential of the Tardeo locality.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Luxury Development Plans in Tardeo<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">K Raheja Corp intends to transform the combined land into a high-end luxury residential project, leveraging Tardeo\u2019s status as one of Mumbai\u2019s most sought-after neighborhoods. The area\u2019s proximity to commercial hubs and upscale amenities make it an ideal location for premium developments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Other Acquisitions<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This is not the first high-profile acquisition by K Raheja Corp this year. Earlier, the company purchased Central Mall (previously Crossroads), India\u2019s first shopping mall, for \u20b9476 crore. Central Mall, established in the late 1990s, holds a legacy as a trailblazer in India\u2019s retail sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With these acquisitions, K Raheja Corp cements its leadership in South Mumbai\u2019s real estate sector. The company\u2019s strategic focus on prime properties highlights its vision of catering to the luxury segment and creating iconic developments in Mumbai\u2019s most desirable locations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This latest acquisition demonstrates K Raheja Corp&#8217;s commitment to reshaping South Mumbai\u2019s skyline with projects that blend modernity, luxury, and historical significance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Recent Transactions<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Mumbai&#8217;s commercial real estate market has witnessed increased transactions driven by strategic acquisitions and robust investor interest in key business hubs across the city.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a recent transaction, <a href=\"https:\/\/www.floortap.com\/resources\/equinix-india-purchases-1-38-acre-land-in-mumbais-chandivali-for-%e2%82%b9155-crore\/\" target=\"_blank\" rel=\"noreferrer noopener\">Equinix India Pvt Ltd acquired a 5,597 sq m (1.38 acres) land parcel<\/a> in the Chandivali neighborhood of Mumbai for \u20b9155 crores. In another transaction, Bollywood actress <a href=\"https:\/\/www.floortap.com\/resources\/sara-ali-khan-acquires-two-office-spaces-in-andheri-west-mumbai-for-over-%e2%82%b922-crore\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sara Ali Khan and her mother Amrita Singh purchased two office units<\/a> in Mumbai\u2019s Andheri West \u20b9 22.26 crore.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.floortap.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">FloorTap<\/a> connects you with commercial real estate stakeholders for effective decision-making, regardless of your role as a broker, tenant, or landlord.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>K Raheja Corp, one of the leading real estate developers in India, has added two prime properties to its list. The company has cracked two big deals in South Mumbai &#8211; Bayside Mall and Popular Press Building in the posh locality of Tardeo according to the documents accessed by CRE Matrix. The deal valued at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[15],"tags":[99,31,91,25,24],"class_list":["post-1784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-commercial-properties","tag-commercial-real-estate","tag-mumbai","tag-mumbai-real-estate","tag-office-space"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>K Raheja Corp Acquires Bayside Mall and Popular Press Building in Tardeo<\/title>\n<meta name=\"description\" content=\"Real estate giant K Raheja Corp has acquired Bayside Mall and Popular Press Building in Tardeo for \u20b9355 crore. 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