 "Tata Investment Corp buys 2 office spaces in Mumbai's Wadala for Rs 148 cr")
Tata Investment Corporation has bought two office spaces measuring 42,743 sq ft in Mumbai's Wadala area for Rs 148 crore, according to property registration documents accessed by CRE Matrix.
The properties, sold by NCP Commercial Pvt. Ltd., are part of the luxurious commercial development at Lodha Excelus, located in the New Cuffe Parade area of Wadala, which is one of the city’s most sought-after business districts.
The transaction featured a substantial stamp duty of Rs 8.88 crore.
The first office space on the 17th floor of Lodha Excelus is 21,441 sq ft and was purchased for Rs 74.24 crore. It has 28 car parking spaces.
The second office space on the 22nd floor of Lodha Excelus, which is 21,302 sq ft and has 35 car parking spaces, was purchased for Rs 73.75 crore.
Key Details of the Transaction:
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- Property: Complete 22nd Floor & 17th Floor, Lodha Excelus, New Cuffe Parade, Wadala, Mumbai
- Seller: NCP Commercial Pvt. Ltd.
- Purchaser: Tata Investment Corporation Ltd.
- Agreement Value: Rs 148 crore for both floors combined (Rs 73.75 crore for the 22nd floor & Rs 74.24 crore for the 17th floor)
- Stamp Duty: Rs 8.88 crore (Rs 4.42 crore for the 22nd floor and Rs 4.45 crore for the 17th floor)
- Registration Date: 10th January 2025
- Total Carpet Area: 42,743 sq. ft. (21,302 sq. ft. on the 22nd floor & 21,441 sq. ft. on the 17th floor)
The office building Lodha Excelus is located inside Lodha New Cuffe Parade, a township project by Macrotech Developers.
Lodha Excelus is a mixed-use development, spread over 23 acres and includes 10 residential and three commercial towers. Lodha Group has 2.5-3 million sq ft office space across three towers.