Panasonic Life Solutions India acquires land parcel in Mumbai for Rs 160 cr

Panasonic Life Solutions India (formerly Anchor Electricals) has acquired a land parcel in Mumbai’s Andheri East for Rs 160 crore, according to property registration documents provided by Square Yards.

 

The land, spanning approximately 6,586.90 square metres, was purchased from River Rose Developers LLP, as per the registration documents. The transaction included a stamp duty payment of Rs 9.60 crore and a registration fee of Rs 30,000.

 

The deal was registered on January 29, 2025, with the Inspector General of Registration (IGR), Government of Maharashtra.

 

Andheri East is a key commercial and residential hub in Mumbai, offering connectivity via the Western Express Highway, Metro Line 1, and proximity to both domestic and international airports. The area houses a business ecosystem that includes SEEPZ, the Maharashtra Industrial Development Corporation (MIDC), and numerous corporate offices.

 

 

Over the past 12 months, the area has recorded 1,421 new sale transactions with a gross sales value of Rs 2,247 crore. The average property rate in the region stood at Rs 37,778 per square foot, while the average rental price was Rs 74.8 per square foot. Property prices in the region have risen by 3 per cent on a year-on-year basis, according to Square Yards Intelligence.

 

Panasonic Life Solutions India is a wholly owned subsidiary of Panasonic Corporation, a Japanese multinational electronics firm. The company has been a leading player in India's electrical construction materials industry since 1963 and was acquired by Panasonic in 2007.