Another expensive deal in Mumbai
In Mumbai, the financial capital of the country and a hub for high-value real estate transactions, another major deal has taken place. A 22-story office tower has been sold for Rs 707 crore. CapitaLand India Trust (formerly Ascendas India Trust) from Singapore has acquired the 22-story office building from Aram Ventures for Rs 707 crore. The building, named Building Q2, is located in Ghansoli, Navi Mumbai, and covers an area of 8.5 lakh square feet. This is one of the largest deals made through a global institutional investor in India.
As part of the agreement, Aram Ventures will have to make incremental lease payments within 12 months from the date of purchase. The agreement for this purchase was actually finalized in May 2018. The building houses several multinational companies, prominent banks, and other organizations. Additionally, Ascendas had previously bought the Q1 tower on the same campus for ₹353 crore.
