Japan’s Sumitomo acquires Bombay Dyeing’s land for Rs 4.4 Bn

11 Sep 2024 CW Team

Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, has acquired the land parcel along with its associated floor space index (FSI) from Bombay Realty, the property development subsidiary of Bombay Dyeing & Manufacturing Company.

In the largest land transaction in India last year, the Japanese company had entered into an agreement with BDMC to acquire a total 22 acres in Worli for Rs 52 billion and this deal concluded now is part of the same agreement.

The entire transaction between Sumitomo and Bombay Realty was expected to be completed in two phases including the first tranche of Rs 46.75 billion. The balance Rs 5.25 billion was to be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase.

The company has paid stamp duty of Rs 264.5 million for the registration of the deal that took place on August 13, 2024, shows the documents accessed through real estate data analytics firm Propstack. “With this, the deal for the entire land as committed by the company has been concluded. We have developed and sold a commercial building of about 3.35 lakh sq ft earlier and sold the remaining landholdings in Worli to Sumitomo,” Rahul Anand, CEO, Bombay Realty, told ET.

Last year, Sumitomo Corporation also concluded a transaction with the Mumbai Metropolitan Region Development Authority (MMRDA) to pick up a nearly 3-acre land parcel, through a long-term lease of 80 years, in Mumbai’s business district Bandra-Kurla Complex (BKC) for over Rs 20.67 billion.

Sumitomo Realty & Development Company, one of Japan’s leading real estate developers, has gradually increased its exposure to the Indian real estate market in the last few years. The company has entered India through strategic partnerships and investments in the backdrop of rising demand for premium office spaces and residential developments.

Japan’s Sumitomo Corporation Group has acquired the Wadia Group entity Bombay Dyeing & Manufacturing Company’s prime land parcel spread over nearly 2 acres in Mumbai’s Worli locality for Rs 440 crore. Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, has acquired the land parcel along with its associated floor space index (FSI) from Bombay Realty, the property development subsidiary of Bombay Dyeing & Manufacturing Company. In the largest land transaction in India last year, the Japanese company had entered into an agreement with BDMC to acquire a total 22 acres in Worli for Rs 52 billion and this deal concluded now is part of the same agreement. The entire transaction between Sumitomo and Bombay Realty was expected to be completed in two phases including the first tranche of Rs 46.75 billion. The balance Rs 5.25 billion was to be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase. The company has paid stamp duty of Rs 264.5 million for the registration of the deal that took place on August 13, 2024, shows the documents accessed through real estate data analytics firm Propstack. “With this, the deal for the entire land as committed by the company has been concluded. We have developed and sold a commercial building of about 3.35 lakh sq ft earlier and sold the remaining landholdings in Worli to Sumitomo,” Rahul Anand, CEO, Bombay Realty, told ET. Last year, Sumitomo Corporation also concluded a transaction with the Mumbai Metropolitan Region Development Authority (MMRDA) to pick up a nearly 3-acre land parcel, through a long-term lease of 80 years, in Mumbai’s business district Bandra-Kurla Complex (BKC) for over Rs 20.67 billion. Sumitomo Realty & Development Company, one of Japan’s leading real estate developers, has gradually increased its exposure to the Indian real estate market in the last few years. The company has entered India through strategic partnerships and investments in the backdrop of rising demand for premium office spaces and residential developments.

Infrastructure Transport

07 Apr 2026

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Infrastructure Energy

07 Apr 2026

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..

Infrastructure Energy

07 Apr 2026

Gujarat Pushes Biogas Growth With 193 Operational Units

Gujarat has operationalised 193 biogas plants across the state and is planning to add 60 more units as part of a broader push to scale up clean and sustainable energy solutions. The existing plants, established under various government-supported schemes, process organic waste including cattle dung and agricultural residue to produce biogas and a nutrient-rich slurry. The output is mainly used for cooking and other energy needs in rural and semi-urban communities, while also improving local waste management practices. The Gujarat Energy Development Agency (GEDA) is leading the initiative and is..