by THO
Tata Investment Corporation has purchased two office spaces measuring 42,743 sq ft in Mumbai’s Wadala area for ₹148 crore, according to property registration documents accessed by CRE Matrix.
According to the Agreement for Assignment cum Sale, NCP Commercial Pvt Ltd has sold the two office spaces in a building called Lodha Excelus in the Wadala area of Mumbai.
The first office space on the 17th floor of Lodha Excelus is 21,441 sq ft and was purchased for ₹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 ₹73.75 crore.
The documents showed that the transaction was registered on January 10, for which a stamp duty of ₹8.88 crore was paid. It has 63 car parking spaces.
An email query sent to Tata Investment Corporation did not get any response. At the same time, NCP Commercial Pvt Ltd could not be reached for comment.
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The office building Lodha Excelus is located inside Lodha New Cuffe Parade, a township project by Macrotech Developers, also known as Lodha Group.
Wadala enjoys good connectivity with Bandra Kurla Complex (BKC), India’s costliest commercial district, and South Mumbai. It is also well connected to highway networks for those wanting to travel to the western and eastern suburbs and Atal Setu for those travelling towards Ulwe, Panvel, Navi Mumbai, and Panvel.
Second BKC in Wadala?
The Mumbai Metropolitan Region Development Authority (MMRDA), which is the Special Planning Authority (SPA) of BKC, has a decade-old plan to convert a huge land parcel of Wadala Truck Terminal (WTT) into the city’s third CBD.
