Realtors Landmark Developers, Sobha buy 2-acre land in Parel for Rs 423 cr

In a major real estate transaction, Landmark Developers and Sobha Ltd have jointly acquired a 2.11-acre land parcel at Jerbai Wadia Road, Parel, Mumbai for Rs 423.38 crore. The deal, registered on January 23, 2025, marks a key step in the redevelopment and expansion of premium residential and commercial spaces in the prime central Mumbai locality, according to data shared by CRE Matrix, a real estate data analytics firm.

 

According to property registration documents, the total agreement value for the land stands at Rs 2,12,05,58,000, with a stamp duty payment of Rs 10.60 crore. The sale was executed in partnership, with both developers securing distinct shares in the project’s free-sale component.

 

 

Landmark Developers has acquired 10,953 sq. mtr of the free-sale component, valued at Rs 212.05 crore while Sobha Ltd has secured 21,621.24 sq. mtr, amounting to Rs 211.32 crore.