{"id":3079,"date":"2023-03-06T13:41:00","date_gmt":"2023-03-06T08:11:00","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=3079"},"modified":"2026-05-14T13:53:06","modified_gmt":"2026-05-14T08:23:06","slug":"pfizer-navi-mumbai-plant-deal-reaches-%e2%82%b9178-crore","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/pfizer-navi-mumbai-plant-deal-reaches-%e2%82%b9178-crore\/","title":{"rendered":"Pfizer Navi Mumbai Plant Deal Reaches \u20b9178 Crore"},"content":{"rendered":"\n

The Pfizer Navi Mumbai plant deal highlights strong industrial activity in MMR. Pharma major Pfizer sold the leasehold rights of its Turbhe property during the transaction. According to documents accessed by CRE Matrix<\/a>, Vidhi Research and Development LLP acquired the property rights from Pfizer. The deal included a large industrial land parcel and a manufacturing plant. Moreover, the transaction value reached \u20b9178 crore for the leasehold transfer. The property is located in the Trans-Thane Creek industrial area in Navi Mumbai.<\/p>\n\n\n\n

Deal Includes 54.89 Acre Industrial Property<\/strong><\/h2>\n\n\n\n

The Pfizer Navi Mumbai plant deal includes 54.89 acres of leasehold land in Turbhe. The total land area measures nearly 23.47 lakh sq ft. Moreover, the property includes a manufacturing plant spread across 3.92 lakh sq ft. The transaction covered both industrial land and existing plant infrastructure. The site is located on Thane Belapur Road in Navi Mumbai.<\/p>\n\n\n\n

The total transaction amount reached \u20b9207 crore, including MIDC payments. Pfizer received a lump sum amount of \u20b9178 crore through the deal. Additionally, the buyer paid \u20b929.58 crore to Maharashtra Industrial Development Corporation. The payment covered the differential premium linked to the lease transfer. A stamp duty of \u20b922.07 crore was also paid during registration.<\/p>\n\n\n\n

MIDC Approved the Leasehold Transfer<\/strong><\/h2>\n\n\n\n

MIDC originally leased the land to Pfizer India in April 1965. The lease period covered 95 years for setting up a manufacturing facility. Pfizer\u2019s board approved the transfer resolution during 2015. However, MIDC granted official approval for the transfer during 2019. The approval came after the purchaser agreed to pay the required premium.<\/p>\n\n\n\n

Pfizer India also confirmed the transfer through a regulatory filing last month. The filing stated that the company completed the transfer of land and plant machinery. Furthermore, the transfer included workers linked to the manufacturing facility. The transaction marked the closure of a long-held industrial asset in Navi Mumbai. The deal also reflects rising industrial land activity across MMR.<\/p>\n\n\n\n

Navi Mumbai Industrial Market Remains Active<\/strong><\/h2>\n\n\n\n

Navi Mumbai continues witnessing strong industrial and logistics activity across major corridors. Turbhe and Thane Belapur Road remain important industrial locations in MMR. Large industrial land parcels continue attracting occupiers and investors across the region. Moreover, warehousing and manufacturing demand remain healthy in Navi Mumbai. Strong connectivity also supports industrial growth across the market.<\/p>\n\n\n\n

Navi Mumbai Industrial Market Outlook Remains Strong<\/strong><\/h2>\n\n\n\n

The Pfizer Navi Mumbai plant deal highlights continued confidence in industrial real estate assets. Large occupiers and investors continue targeting industrial properties across MMR. Navi Mumbai also remains a key destination for logistics and manufacturing activity. Furthermore, industrial infrastructure development continues to improve across the region. Demand for strategic industrial land parcels may remain strong in the coming years.<\/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 Mention<\/strong><\/h2>\n\n\n\n