{"id":884,"date":"2024-12-09T11:06:06","date_gmt":"2024-12-09T05:36:06","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=884"},"modified":"2026-04-21T15:03:55","modified_gmt":"2026-04-21T09:33:55","slug":"k-raheja-corp-acquires-two-mumbai-properties-for-%e2%82%b9355-cr","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/k-raheja-corp-acquires-two-mumbai-properties-for-%e2%82%b9355-cr\/","title":{"rendered":"K Raheja Corp Acquires Two Mumbai Properties for \u20b9355 Cr"},"content":{"rendered":"\n

K Raheja Corp’s real estate investment arm, Ivory Property Trust, has significantly expanded its Mumbai portfolio by acquiring two prime properties in the upscale Tardeo area: the prestigious Bayside Mall and the historic Popular Press Building, for a total of \u20b9355 crore from AAA Holding Trust, according to documents accessed by CRE Matrix<\/a>.<\/p>\n\n\n\n

The Bayside Mall and Popular Press Building, spanning 1216.29 sq m and 1070.24 sq m respectively, were acquired by Ivory Property Trust for a stamp duty of \u20b921.30 crore.<\/p>\n\n\n\n

Bayside Mall, a three-story structure built on a one-third acre plot, has a total built-up area of 17,345 sq ft. The mall, which originally had 105 units, now comprises 75 units following the consolidation of certain units.<\/p>\n\n\n\n

The Popular Press Building, a two-story structure situated adjacent to Bayside Mall on a plot of land exceeding a quarter-acre, was also part of the acquisition. The buyer made an initial payment of Rs 120 crore at the time of deal registration.<\/p>\n\n\n\n

Ivory Property Trust fulfilled its payment obligations by paying the second tranche of Rs 120 crore to AAA Holding Trust on August 22. The final tranche of Rs 115 crore was scheduled to be paid by the deal’s closing date of November 20.<\/p>\n\n\n\n

Recent Transactions in Mumbai<\/strong><\/p>\n\n\n\n

Mumbai is more than just India’s financial capital. It’s a real estate powerhouse, buzzing with opportunities. With sky-high demand, a booming economy, and a diverse range of properties, Mumbai’s real estate market is a dream come true for investors and homebuyers alike.<\/p>\n\n\n\n

In a recent transaction, Equinix India purchased 5,597 square meters of land in Mumbai’s Chandivali<\/a> for \u20b9155 crore. In another transaction, Property Ventures (India) Pvt Ltd recently sold an IT Park<\/a> located in Mumbai\u2019s Malad area for a substantial sum of \u20b9335 crore. <\/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