Mapletree buys land for Rs 5.25 bn in Mumbai

05 Oct 2020 Editorial Team

Mapletree investments of Singapore bought land for Rs 5.25 billion in the Vikhroli area of Mumbai. This can be earmarked as one of the biggest land deals in the country this year.

Mapletree purchased the land from Kanakia Group. Kanakia Group, in turn, had bought the land from India Tube Mills and Metals (ITM) for Rs 3.63 billion in 2018. The land prices in Vikhroli hover between Rs 500-550 million, therefore the price paid by Mapletree was fair.

Reportedly Mapletree is planning to build a commercial project on the plot and the area would have around 2.2 million sq ft of leasable land.

Mapletree has made such real estate purchases in the past as well. In 2018 it bought SP Infocity in Chennai from Canada pension plan investment board and Shapoorji Pallonji’s private equity arm for Rs 24 billion. In 2019 it bought an 8-acre land parcel for Rs 1.7 billion in Pune from Vascon Engineers with the aim of developing a world-class office with an estimated project cost of Rs 10 billion.

In 2020 it made the first logistics space acquisition in India’s by acquiring a part of a 1.2 million sq ft industrial warehouse in Chakan, near Pune, for around $45-50 million. This was the first large real estate deal signed by the real estate asset manager after the lockdown imposed due to coronavirus.

Mapletree, headquartered in Singapore, is a leading real estate development, investment, capital and property management company. As of 31 March 2020, Mapletree owned and managed $60.5 billion of office, retail, logistics, industrial, data centre, residential and lodging properties. Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and five private equity real estate funds

The Mapletree India China Fund was launched to leverage the opportunities that come with the growth of one of the world’s most populous nations. The first investment made in India was on a 13-acre Global Technology Park in Bangalore.

Mapletree investments of Singapore bought land for Rs 5.25 billion in the Vikhroli area of Mumbai. This can be earmarked as one of the biggest land deals in the country this year. Mapletree purchased the land from Kanakia Group. Kanakia Group, in turn, had bought the land from India Tube Mills and Metals (ITM) for Rs 3.63 billion in 2018. The land prices in Vikhroli hover between Rs 500-550 million, therefore the price paid by Mapletree was fair. Reportedly Mapletree is planning to build a commercial project on the plot and the area would have around 2.2 million sq ft of leasable land. Mapletree has made such real estate purchases in the past as well. In 2018 it bought SP Infocity in Chennai from Canada pension plan investment board and Shapoorji Pallonji’s private equity arm for Rs 24 billion. In 2019 it bought an 8-acre land parcel for Rs 1.7 billion in Pune from Vascon Engineers with the aim of developing a world-class office with an estimated project cost of Rs 10 billion.In 2020 it made the first logistics space acquisition in India’s by acquiring a part of a 1.2 million sq ft industrial warehouse in Chakan, near Pune, for around $45-50 million. This was the first large real estate deal signed by the real estate asset manager after the lockdown imposed due to coronavirus.Mapletree, headquartered in Singapore, is a leading real estate development, investment, capital and property management company. As of 31 March 2020, Mapletree owned and managed $60.5 billion of office, retail, logistics, industrial, data centre, residential and lodging properties. Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and five private equity real estate funds The Mapletree India China Fund was launched to leverage the opportunities that come with the growth of one of the world’s most populous nations. The first investment made in India was on a 13-acre Global Technology Park in Bangalore.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

Infrastructure Urban

06 Apr 2026

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Infrastructure Energy

06 Apr 2026

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..