{"id":3065,"date":"2023-04-08T10:50:00","date_gmt":"2023-04-08T05:20:00","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=3065"},"modified":"2026-05-14T10:58:54","modified_gmt":"2026-05-14T05:28:54","slug":"piramal-capital-sells-two-office-spaces-in-mumbais-bkc-for-rs-110-crore","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/piramal-capital-sells-two-office-spaces-in-mumbais-bkc-for-rs-110-crore\/","title":{"rendered":"Piramal Capital Sells Two Office Spaces in Mumbai\u2019s BKC for Rs 110 Crore"},"content":{"rendered":"\n

Piramal Capital and Housing Finance Ltd has sold two office spaces at TCG Financial Centre in Mumbai\u2019s Bandra Kurla Complex (BKC) for Rs 110 crore, according to property registration documents accessed by real estate data analytics firm CRE Matrix<\/a>. The buyer is TCG Urban Infrastructure Pvt Ltd, and the transaction covers a total carpet area of 18,764 sq ft.<\/p>\n\n\n\n

The deal highlights continued investor interest in premium commercial assets in BKC, one of India\u2019s most expensive and sought-after office markets.<\/p>\n\n\n\n

Deal Covers Nearly 19,000 Sq Ft Office Space<\/strong><\/h2>\n\n\n\n

The two office units are located at TCG Financial Centre in BKC, Mumbai\u2019s leading commercial and financial district. The transaction value stands at Rs 110 crore. This translates into a significant premium for Grade A office assets in the micro-market.<\/p>\n\n\n\n

The buyer has also secured exclusive rights to use 31 car parking slots as part of the transaction. Property registration documents show that the buyer paid a stamp duty of Rs 6.60 crore. The agreement was registered on March 28, 2023.<\/p>\n\n\n\n

Transaction Marks a Buyback Deal<\/strong><\/h2>\n\n\n\n

The transaction is notable because it marks a buyback of the same office units after nearly a decade.<\/p>\n\n\n\n

In 2013, TCG Urban Infrastructure Holdings Pvt Ltd had sold these office spaces to Dewan Housing Finance Corporation Ltd (DHFL) for Rs 95 crore, according to the agreement for assignment documents.<\/p>\n\n\n\n

Now, the assets have returned to the TCG group through TCG Urban Infrastructure Pvt Ltd at a higher transaction value of Rs 110 crore. This reflects the long-term appreciation of commercial real estate assets in BKC.<\/p>\n\n\n\n

BKC Continues to Attract High-Value Commercial Deals<\/strong><\/h2>\n\n\n\n

Bandra Kurla Complex remains one of India\u2019s most premium business districts, attracting banks, multinational companies, financial institutions, and global corporations.<\/p>\n\n\n\n

Office space values in BKC vary widely depending on the building, floor level, and asset quality. In select trophy assets, transaction values can reach as high as Rs 1 lakh per sq ft, while average rates in the district generally begin around Rs 20,000 per sq ft.<\/p>\n\n\n\n

The district houses the headquarters and offices of major institutions. These include the National Stock Exchange, Bank of Baroda, Indian Oil Corporation, the Reserve Bank of India, and the U.S. Embassy & Consulates in India.<\/p>\n\n\n\n

Mumbai\u2019s Premium Office Market Remains Resilient<\/strong><\/h2>\n\n\n\n

Large-ticket office transactions continue to underline the resilience of Mumbai\u2019s commercial real estate market despite changing workplace trends.<\/p>\n\n\n\n

Institutional investors and corporate occupiers continue to prefer established business districts such as BKC because of strong infrastructure, premium office stock, and long-term value appreciation potential.<\/p>\n\n\n\n

The latest transaction further reinforces BKC\u2019s position as one of the most expensive and strategically important office destinations in India.<\/p>\n\n\n\n

Elevate your decisions in real estate as a developer or broker with CRE Matrix\u2018s data-driven insights. Book a demo now<\/a>!<\/p>\n\n\n\n

Media Mentions<\/strong><\/h2>\n\n\n\n