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Landmark Developers & Sobha Ltd Acquires 2.11 Acre Land Worth ₹423 Crore in Parel, Mumbai

Landmark Developers & Sobha Ltd Acquires 2.11 Acre Land

In a major real estate transaction, Landmark Developers and Sobha Ltd. have acquired a 2.11-acre land parcel on Jerbai Wadia Road for ₹423.38 crore, according to property registration documents accessed by CRE Matrix. The deal was registered on January 23, 2025, paving the way for new luxury residential and commercial spaces.

The total agreement value for the land acquisition was ₹212.06 crore, along with a stamp duty payment of ₹10.60 crore. The sale was a partnership, with each developer receiving a share of the project’s free-sale component. Sobha Ltd. secured a larger portion of the free-sale component, 21,621.24 sq. mtr for ₹211.32 crore, while Landmark Developers acquired 10,953 sq. mtr for ₹212.05 crore. 

Landmark Developers and Sobha Ltd.’s Parel land acquisition is expected to significantly contribute to the area’s high-end real estate landscape, potentially delivering luxury housing, retail spaces, and commercial offices. Their collaboration highlights the dynamic changes shaping Mumbai’s Central Business District.

This Parel land deal, according to industry experts, points to strong developer interest in prime Mumbai sites, especially for large redevelopment projects aimed at optimizing land use in the city.

Recent land transactions in Mumbai 

Mumbai’s real estate market is experiencing exponential growth in land transactions, driven by several key factors. Firstly, the city’s limited land availability and high demand for housing and commercial spaces make redevelopment projects crucial. Developers are increasingly focusing on these projects to maximize space utilization and cater to the growing population. Additionally, the ongoing infrastructure development in the city, including new transportation networks and commercial hubs, is further adding to the demand for land in strategic locations.

In a recent land transaction, K Raheja Corp shelled out Rs 466 crore for 5.7 acres in Mumbai’s Kandivali.  In another transaction, Equinix India bought 5,597 sq m of land in Mumbai’s Chandivali for ₹155 crore. 

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Kalpataru Secures 7.5-Acre Redevelopment Projects in Mumbai Worth Rs 2,000 Crore Revenue

Kalpataru Secures 7.5-Acre Redevelopment Projects in Mumbai

Kalpataru, a prominent real estate developer, has signed contracts for two sizable housing society projects in Chembur and Goregaon in Mumbai. With a combined development area of more than 1.5 million square feet, these projects have a potential revenue of more than ₹2,000 crore. It is anticipated that the projects will be finished 42 months after construction begins.

Kalpataru has signed individual agreements and obtained approvals from current members for the redevelopment of two important housing societies: The five-acre Suman Nagar Housing Society in Chembur will replace ten existing residential buildings with six contemporary towers, providing about 350 new flats and a saleable carpet area share of more than 4.20 lakh sq ft. 

Located close to Link Road and the Bangur Nagar Metro station, the 2.5-acre Goregaon Housing Society consists of the conversion of eight residential structures into three towers with 18 habitable stories. With a saleable carpet area of over 2 lakh square feet, the project can house 200 units. According to documents accessed by CRE Matrix, Kalpataru has already paid roughly ₹27.60 crore in stamp duty to register these agreements.

Since its founding in 1988, Kalpataru has established a solid reputation in Mumbai’s redevelopment industry. The company has completed eight projects in desirable neighborhoods like Byculla, Sion, Bandra, Juhu, Andheri, and Santacruz. The company now oversees four rehabilitation projects in Santacruz, Bandra, and Matunga, and three more are planned for Juhu, Borivali, and Andheri.

The renovation of old housing societies is an important aspect of Mumbai’s real estate market because of the city’s land limits. The Maharashtra government has actively supported such initiatives by introducing policies to ease the financial burden on residents. In 2023, the state government decided that members of housing societies getting redeveloped would only have to pay a small stamp duty of Rs 100 for the permanent housing they were given, while the conveyance laws would charge the principal agreement between the developer and society.

Recent Transactions

Kalpataru’s latest redevelopment ventures in Chembur and Goregaon mark another milestone in Mumbai’s real estate sector. As redevelopment continues to be a driving force in Mumbai’s property market, projects like these pave the way for a more modern and sustainable urban landscape.

In a recent transaction, Kanakia Spaces Realty Pvt Ltd acquired development rights for two old buildings in Borivali, Mumbai, worth ₹208.53 crore.
 
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Mahindra Logistics Secures Long-Term Lease for 500,000 Sq Ft Warehousing Facility in Pune

Mahindra Logistics Secures Long-Term Lease for 500,000 Sq Ft Warehousing Facility in Pune

Mahindra Logistics, a prominent supplier of third-party logistics (3PL) solutions and part of the Mahindra Group has secured a long-term lease for 500,000 square feet of space in the Khed neighborhood of Pune according to documents accessed through CRE Matrix. With a total warehouse portfolio of more than 22 million square feet, the company has solidified its place as a significant player in India’s rapidly expanding logistics sector.

The warehouse, which is situated in Karanje Emerald Industrial Park, is leased for ₹1.15 crore a month for five years. A 5% annual rental escalation is included in the agreement after the first two years. To secure the lease, Mahindra Logistics registered the agreement on January 20 and gave a security deposit equal to three months’ rent. Although rental payments will begin on April 3, the license period formally began on January 3.

As per the agreement, the lease rentals are exclusive of Goods & Services Tax (GST), which will be borne by the tenant. However, the rentals do cover common area maintenance charges, with any additional utility or service costs falling under the tenant’s responsibility.

Mahindra Logistics has a strong presence in several important Indian marketplaces. This recent lease demonstrates the company’s dedication to expanding operations in response to rising demand. The company has stated that it currently manages over 22.1 million sq ft and continues to explore and assess new growth opportunities. Delivering outstanding value to stakeholders and customers, fostering innovation, and securing its position as a pioneer in integrated logistics solutions continue to be its top priorities.

A rise in e-commerce, changes in supply chain tactics, and the demand for effective distribution networks have all contributed to the notable expansion of India’s storage sector. 3PL businesses like Mahindra Logistics are growing to serve sectors like consumer products, retail, automobiles, and pharmaceuticals. The industry’s quick development is further facilitated by the move toward structured storage and the use of technology-driven solutions.

Recent Transactions

As businesses place more emphasis on well-located warehouses, Mahindra Logistics’ growth in Pune reflects the sector’s increasing significance in optimizing supply chains and facilitating a range of commercial activities. 

In a similar transaction last year, Indian multinational tyre manufacturing company, MRF leased 3.85 lakh sq ft of large warehousing space in the village Sudvadi, Mawal area of Pune district.

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HDFC Bank Signs Rs 1,020-Cr Lease Agreement for 4.5 Lakh Sq Ft Office Space in Mumbai’s Andheri

HDFC Bank Signs Rs 1,020-Cr Lease Agreement for 4.5 Lakh Sq Ft Office Space

A significant commercial lease has been signed by HDFC Bank in Mumbai’s Andheri. The bank has secured 4.50 lakh sq ft of space at an annual rental cost of more than ₹1,020 crore, according to documents accessed by CRE Matrix. 

Documents reveal that HDFC Bank has signed a 10-year lease for a carpet area of nearly 2.73 lakh sq ft within R Square, a commercial building constructed by Histyle Retail Pvt Ltd, a subsidiary of Runwal Realty. This significant lease agreement highlights HDFC Bank’s commitment to expanding its presence in Andheri, Mumbai.

The leasing of the commercial space has been executed through a series of three separate agreements. These agreements cover selected units located on the ground floor, as well as the first through sixth floors of the building. The monthly rental payment for the leased space is ₹6.45 crore, translating to an annual rent exceeding ₹1,020 crore. The lease agreement includes a provision for a 15% rent escalation at the end of every 36 months. 

The licensee was permitted to commence operations on January 21, 2025, with the agreement subsequently being registered on January 27, 2025. The commercial space features 227 parking spaces. A significant security deposit of ₹116 crore was paid by HDFC Bank as part of the leasing agreement.

Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and IndexTap.com commented, “Andheri is a growing office market of Mumbai in terms of annual leasing activity, new housing developments, metro, airport, and highway connectivity, hospitality, and everything in between.”

Recent Transactions in Mumbai

In a recent transaction, Tata Investment Corp acquired two office properties totaling 42,743 sq ft in Mumbai’s Wadala area for nearly ₹150 crore. In another transaction last year, Nielsen Media India Private Limited and its subsidiary leased 1.52 lakh square feet of office space in Mumbai’s Goregaon.

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Tata Investment Corp Purchases Office Space in Wadala, Mumbai, for ₹150 Crore

Tata Investment Corp Purchases Office Space in Wadala

Tata Investment Corporation, Tata Group’s non-banking financial company has acquired two office properties totaling 42,743 sq ft in Mumbai’s Wadala area for nearly ₹150 crore, according to documents accessed by CRE Matrix. 

The Agreement for Assignment cum Sale indicates that NCP Commercial Pvt Ltd has transferred ownership of the two office spaces situated in the Lodha Excelus building in the Wadala region of Mumbai.

The first office space, situated on the seventeenth floor of Lodha Excelus, encompasses an area of 21,441 square feet and was acquired for a sum of ₹74.24 crore. It includes a provision for twenty-eight car parking spaces. The second office space, a substantial 21,302 square feet, occupies the entire 22nd floor of the prestigious Lodha Excelus building. This acquisition, valued at ₹73.75 crore, also includes a generous allocation of 35 car parking spaces.

The documentation reveals that the transaction was officially recorded on January 10th, requiring the payment of a stamp duty amounting to ₹8.88 crore. The property in question is equipped with 63 designated car parking spaces.

Tata Investment’s purchase of office space in Wadala highlights the area’s growing importance. Wadala boasts excellent connectivity. It enjoys proximity to Bandra Kurla Complex (BKC), India’s most expensive commercial hub, and South Mumbai. Furthermore, strong highway links facilitate easy travel to both western and eastern suburbs. Access to Atal Setu provides convenient connectivity towards Ulwe, Panvel, Navi Mumbai, and beyond.

Recent Office Transactions in Mumbai 

The continuous growth of businesses in Mumbai, India’s premier commercial hub, has created a demand for high-quality office spaces. This dynamic market attracts a diverse range of businesses, from multinational corporations to innovative startups, all seeking strategic locations to establish and expand their operations.

In a transaction last year, Nielsen Media and its subsidiary leased 1.52 lakh sq ft of office space in Mumbai for ₹3.87 Crore per month for 10 years. In another transaction, a subsidiary of Redbrick Offices acquired 22 office units for Rs 267.5 Crore in Mumbai. 


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DLF’s Sidhant Real Estate Acquires Iconic Bungalow in Lutyens’ Delhi for ₹150 Crore

DLF’s Sidhant Real Estate Acquires Iconic Bungalow in Lutyens’ Delhi for ₹150 Crore

Sidhant Real Estate, a company led by DLF Chairman Rajiv Singh and his family, is in the headlines for the acquisition of a grand bungalow in the upscale neighborhood of Prithviraj Road in Lutyens’ Delhi. The transaction, valued at ₹150 crore, according to documents accessed by CRE Matrix is a testament to the rising demand for ultra-luxury properties in the capital’s most coveted areas.

The bungalow was acquired from Rangoli Resorts, a company where Sheela Foam’s executive chairman, Rahul Gautam, and his family serve as directors. According to the documents, Sidhant Real Estate paid a stamp duty of ₹10.5 crore.

Rangoli Resorts, known for its association with Sheela Foam, also completed another high-value transaction last year, purchasing a bungalow on Hailey Road for ₹165 crore. Both deals were finalized in October 2024 and listed on the India Sotheby’s International Realty platform, showcasing their exclusivity.

While Rangoli Resorts’ dealings show the glamour of luxury real estate investments, Sidhant Real Estate’s acquisition stands in the spotlight. It not only adds to the portfolio of the company but also brings Lutyens’ Delhi to the forefront of high-net-worth individuals searching for luxury properties.

This transaction is just one more example of DLF’s history of large, high-end developments and acquisitions, as Sidhant Real Estate continues to gain prominence and stature in the luxury real estate market.

Recent Transactions in Delhi

The market for luxury real estate in Delhi is still highly competitive, with high-profile deals occurring in some of the most desirable areas in the city. These transactions demonstrate the rising demand for upscale real estate in desirable neighborhoods like Lutyens’ Delhi.

In a recent transaction, Anurang Jain, the managing director of auto component leader Endurance Technologies purchased a 1,350 square-yard bungalow on Kautilya Marg, New Delhi for a substantial sum of ₹130 crore.

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K Raheja Corp Shells Out Rs 466 Crore for 5.7 Acres in Mumbai’s Kandivali

K Raheja Corp Shells Out Rs 466 Crore for 5.7 Acres in Mumbai's Kandivali

Realty developer K Raheja Corp has entered into an agreement to acquire a 5.75-acre parcel of land, including existing structures, in the eastern district of Kandivali, Mumbai, for a consideration of approximately ₹466 crore, according to documents accessed by CRE Matrix. 

A subsidiary of the company, K Raheja Corp Real Estate, entered into an agreement with Global e-Service, the successor entity to The New Vinod Silk Mills, to purchase the land parcel and the building known as Vinod House.

The documents state that the entire time needed to finish the transaction will impact the consideration value. For instance, the entire consideration value will be ₹422 crore if the transaction is finalized between November 2025 and January 2026. However, the consideration value will increase to ₹466 crore, if the transaction is completed by the maximum date of December 2029.

The developer paid a stamp duty of ₹31.74 crore to register the land acquisition agreement signed on December 22nd. K Raheja Corp Real Estate plans to develop a luxury residential project on the acquired plot and is seeking necessary approvals from Mumbai’s civic authorities. 

K Raheja Corp has made an initial payment of ₹210 crore to Global e-Service. The remaining payment will be made upon receiving approval from the civic authority. The agreement stipulates a five-year timeframe for the developer to obtain the necessary permissions.

This acquisition marks the fourth property purchase by K Raheja Corp in recent months. Last month, the developer acquired two prominent properties: Bayside Mall, an early entrant in India’s shopping mall scene, and Popular Press Building, spanning over half an acre in South Mumbai’s Tardeo area, for a combined transaction value exceeding ₹ 355 crore.

Recent Land Transactions in Mumbai 

The Mumbai real estate market is witnessing a surge in land transactions, because of robust demand for luxury residences. Realty developers are picking up land parcels through outright purchases, entering into joint development agreements, and undertaking housing society redevelopment projects to capitalize on the growing appetite for luxury properties at prime locations.

This aggressive land-grabbing reflects the city’s enduring allure and the escalating desire for high-end living spaces in prime locations.

In a recent transaction, Equinix India bought 5,597 sq m of land in Mumbai’s Chandivali for ₹155 crore. In another transaction, Mahindra and Mahindra Ltd Sold 20.5 Acres of land in the Kandivali Area for Rs.210 Crore. 

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Awfis Space Solutions Secures 1.97 Lakh Sq Ft Office Space in Pune’s Kharadi

Awfis Space Solutions Secures 1.97 Lakh Sq Ft Office Space in Pune's Kharadi

Co-working giant Awfis Space Solutions expands its footprint with a 197,000 Sq Ft lease in Pune’s thriving Kharadi over a five-year lease, according to documents accessed by CRE Matrix. 

For the initial three-month fit-out period commencing on January 1st, the company will pay a monthly rental of Rs 18 per square foot. After the initial three months, lease rentals will be structured based on a profit-sharing model with a minimum guarantee, as outlined in the agreement between the company and the developer. 

This transaction, registered on December 30th, involved a security deposit payment of Rs 8.87 crore from Awfis Space Solutions. The leased office space occupies all 17 floors of the commercial tower. The agreement includes a monthly common area maintenance charge of Rs 4 per square foot of carpet area.

Startups and small businesses are leaving behind traditional office setups and embracing the freedom of flexible workspaces. With hybrid work becoming the norm, who needs a massive office gathering most of the time? Coworking spaces and managed offices offer the perfect solution. This flexibility is a game-changer, especially in dynamic cities like Bengaluru, Mumbai, and Delhi-NCR. The market is exploding with options, from sleek, modern offices to cozy, creative workspaces.

Recent Office Transactions in Pune

Pune’s manufacturing and IT sectors are driving the city’s office market. Areas like Magarpatta City, Kharadi, and Hinjewadi are popular spots for businesses, with lots of modern office buildings popping up. You can find everything from big corporate towers to smaller, more flexible spaces, so there’s something for every company.

In a recent transaction, CA India Technologies Pvt. Ltd. Extended its Office Lease in Pune’s IT Hub with Annual Rent Exceeding ₹12 Crore. 

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Anurang Jain, Managing Director of Endurance Tech Acquires ₹ 130 Crore Bungalow in Delhi

Anurang Jain, Managing Director of Endurance Tech Acquires ₹ 130 Crore Bungalow in Delhi

Anurang Jain, the managing director of auto component leader Endurance Technologies, has purchased a 1,350 square-yard bungalow on Kautilya Marg, New Delhi. The deal was finalized for a substantial sum of ₹130 crore, according to documents accessed by CRE Matrix.

Jain paid a stamp duty of ₹8.32 crore to acquire the property, making it one of the costliest real estate transactions in New Delhi.

This year, several ₹100 crore-plus property deals have closed in New Delhi. The increasing demand for prime properties, coupled with limited supply, has driven up prices and attracted significant investments from high-net-worth individuals.

Recent Transactions in Delhi

New Delhi’s luxury real estate market is experiencing unprecedented demand, driving up prices for prime properties. As a result, numerous high-value bungalow deals are on the verge of closing. In a transaction earlier this year, Bhuvan Bam had bought a bungalow for Rs 11 crore in South Delhi. In another transaction, Zomato CEO Deepinder Goyal purchased two land parcels totaling 5 acres in Mehrauli Tehsil, New Delhi, for ₹79 crore.

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CA India Technologies Pvt. Ltd. Extends Office Lease in Pune’s IT Hub with Annual Rent Exceeding ₹12 Crore

CA India Technologies Pvt. Ltd. Extends Office Lease

US-based CA Technologies Private Limited has renewed its lease for a 1.08 lakh sq ft commercial space in Pune’s Kharadi area, a key IT hub. The lease agreement made with a subsidiary of Panchshil Realty involves an annual rent exceeding ₹12 crore for a five-year term, as per property registration documents obtained by CRE Matrix. This commercial space is situated in the Eon Free Zone, a prominent office hub in Kharadi, and is owned by Eon Kharadi Infrastructure Pvt Ltd. The agreement was registered on November 28, with the tenant providing a security deposit of ₹8.46 crore and a stamp duty of ₹49.57 lakh.

The leased property includes the ground, second, and third floors, totaling 1.08 lakh sq ft. It offers 308 parking spaces, comprising 108 for four-wheelers and 200 for two-wheelers. The current monthly rent is set at ₹98 per sq ft, amounting to ₹1.07 crore, and this rate will remain until November 2025. The rent is scheduled to increase over the lease term, rising to ₹1.12 crore per month in 2025, ₹1.18 crore in 2026, ₹1.24 crore in 2027, and ₹1.30 crore in 2028. Previously, from 2022 to 2024, CA Technologies leased a larger space of over 1.83 lakh sq ft at a monthly rent of ₹2.05 crore.

Kharadi’s commercial real estate market is thriving, with local brokers reporting monthly rental rates of around ₹90 per sq ft for Grade A office spaces. According to Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and IndexTap.com, this transaction highlights how the office markets are still thriving as start-ups, Indian corporations, and GCC companies continue to grow. Ample human resources, Grade A office buildings, and affordability are the main factors that make Pune a desirable office market. Despite a slowdown in growth, Grade A office rentals are still increasing.

Recent Transactions

Pune’s commercial real estate market continues to witness strong activity, with recent transactions reflecting steady demand. In a recent deal, The Lodha Group purchased a 2.82-acre land plot in Pune’s Hinjewadi for Rs 111 crore. In another transaction, MRF secured the lease of 3.85 lakh sq ft of large warehousing space in the Mawal area of Pune.


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