Entrepreneur Rekha Jhunjhunwala’s firm, Kinnteisto LLP, has bought commercial office spaces, spanning over 1.94 lakh square foot (sqft), in the Bandra Kurla Complex (BKC) and Chandivali area of Mumbai for a sum of around Rs 740 crore, according to documents accessed by real estate data platform Propstack. This is one of India’s largest commercial deals.
Kanakia Spaces Realty sold the Chandivali office space with a carpet area of 68,195 sqft for Rs 137.99 crore. This deal is inclusive of 110 car parking slots in the commercial office Boomerang building. Wadhwa Group Holdings sold the BKC office space, which came with a built-up area of around 1.26 lakh sq ft across four floors in the building named The Capital. This office space comes with 124 parking spaces and was purchased for around Rs 601 crore. Both property purchases were registered in October 2023 and a stamp duty of Rs 44.06 crore was paid by Kinnteisto LLP.
In other recent significant commercial real estate transactions, Piramal Capital and Housing Finance sold two units at TCG Financial Centre in BKC that had a carpet area of 18,764 sqft for Rs 110 crore to TCG Urban Infrastructure in March 2023.
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