A source close to CRE Matrix has made property registration documents public that reveal Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, sold an IT Park in Mumbai’s Malad area to Clear Bridge Ventures LLP for ₹335 crore.
The IT Park occupies an area of 1. Linking Road Malad West A 9600 sq ft 96 acres of land for the link road architectural designing project. It is a ground plus six building structure with a total saleable area of one hundred sq ft. 47 lakh square feet. The property has one hundred twenty-three car parking sites and six more vehicle sites. It was finally reacted on August 23, 2024, and the stamp duty was ₹21 –. 85 crore.
Moreover, in a similar connection, land was sold on July 24, 2024, to Blueprintify Properties Pvt Ltd, which comes under Rucha Group of Pune, for Rs. 41 crore. This non-agricultural land developed and sold by Mahindra and Mahindra Limited is located in Kandivali, where the automobile manufacturing plant is situated.
New property sales have remained dull in India, especially in the first quarter ending June. A limited number of 25 land deals involving 325 acres occurred primarily due to high costs and early this year’s general elections.
This scenario is a slight drop from the previous year, when 29 transactions were recorded for a total of 721 acres in the same period. Among the recently completed deals, more than 17 were planned for residential purposes; others included mixed-use, data centers, logistics parks, and retail businesses, as per ANAROCK property consultants.
