+
 DMart acquires Rs 71.50 cr retail space in Mumbai’s Goregaon
Real Estate

DMart acquires Rs 71.50 cr retail space in Mumbai’s Goregaon

Retail major DMart has acquired retail space worth over Rs 71.50 crore from property developer Silver Moon Constructions at its project Vicino in the Goregaon suburb of Mumbai.

Radhakishan Damani’s company Avenue Supermarts remains to snap up retail properties to support its plan of growth and expansion.

Avenue Supermarts, which owns a retail chain DMart, has bought a total of 35,000 sq ft spread across two floors in the project. The company will also get exclusive access to 49 car parks in this tower, as part of the transaction.

The deal was ended on March 31, the last day to avail of the advantages of reduced stamp duty as announced by Maharashtra's government. The company has spent over Rs 2.14 crore as stamp duty for the deal registration.

Over the last few months, Damani, known as an astute investor, has been picking up real estate assets, irrespective of the ongoing Covid-19 pandemic, across top Indian cities that have emerged as major consumption centers.

In Mumbai, Avenue Supermarts has bought four to five properties including retail space and land parcels costing over Rs 1,000 crore including an 8-acre land parcel in Thane from Mondelez India.

In Goregaon, the company has recently acquired 40,000 sq ft retail space costing about Rs 100 crore from Sunteck Realty at its upcoming project Sunteck City in the Goregaon suburb of Mumbai.

The retail chain has also bought two properties in Hyderabad, one in Pune and Bangalore each.

The value of these deals, in addition to the personal property of Damani buys, is above Rs 2,000 crore.

Image Source


Also read: Promoters of JB Chemicals buy luxury property in Mumbai at Rs 138 cr

Retail major DMart has acquired retail space worth over Rs 71.50 crore from property developer Silver Moon Constructions at its project Vicino in the Goregaon suburb of Mumbai. Radhakishan Damani’s company Avenue Supermarts remains to snap up retail properties to support its plan of growth and expansion. Avenue Supermarts, which owns a retail chain DMart, has bought a total of 35,000 sq ft spread across two floors in the project. The company will also get exclusive access to 49 car parks in this tower, as part of the transaction. The deal was ended on March 31, the last day to avail of the advantages of reduced stamp duty as announced by Maharashtra's government. The company has spent over Rs 2.14 crore as stamp duty for the deal registration. Over the last few months, Damani, known as an astute investor, has been picking up real estate assets, irrespective of the ongoing Covid-19 pandemic, across top Indian cities that have emerged as major consumption centers. In Mumbai, Avenue Supermarts has bought four to five properties including retail space and land parcels costing over Rs 1,000 crore including an 8-acre land parcel in Thane from Mondelez India. In Goregaon, the company has recently acquired 40,000 sq ft retail space costing about Rs 100 crore from Sunteck Realty at its upcoming project Sunteck City in the Goregaon suburb of Mumbai. The retail chain has also bought two properties in Hyderabad, one in Pune and Bangalore each. The value of these deals, in addition to the personal property of Damani buys, is above Rs 2,000 crore. Image Source Also read: Promoters of JB Chemicals buy luxury property in Mumbai at Rs 138 cr

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code