Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, has sold an IT Park in Mumbai’s Malad area to Clear Bridge Ventures LLP for ₹335 crore, according to property registration documents accessed by CRE Matrix.
The IT Park spread across an area of 1.96 acres is located in the Linking Road area of Malad west.
The transaction was registered on August 23, 2024. The stamp duty paid for the transaction is ₹21.85 crore, according to the property registration documents.
The IT Park is a ground-plus-six floors property having a total saleable area of 1.47 lakh sq ft. It has 123 car parking spaces and six slots for vehicles, according to the documents.
An email query sent to Property Ventures (India) Pvt Ltd and Clear Bridge Ventures LLP did not get any response.
In a recent land deal, automobile manufacturer Mahindra and Mahindra Limited had sold a 20.5 acres land parcel in Mumbai’s Kandivali area for ₹210 crore
The land was sold to Blueprintify Properties Pvt Ltd, a part of Pune-based real estate firm Rucha Group. The transaction was registered on July 24, 2024
The stamp duty paid for the transaction was ₹13.41 crore, the documents showed.
Also Read: Mumbai real estate: Mahindra and Mahindra Ltd sells 20.5 acres land in Kandivali area for ₹210 crore
The land sold by Mahindra and Mahindra Limited is non-agricultural and is located in the Kandivali area where the company has an automobile manufacturing facility.
Also Read: Embassy Pune Techzone rents 1.23 lakh sq ft commercial space to Volkswagen Group Technology Solutions for ₹66 lakh
Land transactions in 2024
Land transactions in India have remained muted during the April to June quarter with only 25 deals covering 325 acres closed during this period, mainly due to high prices and general elections, according to a report of ANAROCK, a real estate consultancy firm. In comparison, there were 29 land deals closed in the year-ago period, comprising 721 acres.
Also Read: More than 101 land deals for approximately 2,989 acres closed in FY-24 across cities, including Ayodhya
Of the total land deals closed in Q2 2024 (Apr.-June), over 17 for more than 163 acres have been proposed for residential developments. Agriculture, mixed-use development, data centers, logistics parks, industrial, and retail saw one deal each, the ANAROCK report said.
