Nippon Life India Acquires Commercial Spaces worth Rs 4.8 bn

27 Nov 2024 CW Team

Lower Parel is a major commercial suburb of Mumbai known for its premium office spaces. The locality is situated near international airport, the Eastern Express Highway and the Bandra-Worli Sea Link, providing excellent connectivity to other parts of the city. One Lodha Place is ready-to-move commercial project developed by Lodha Group (Macrotech Developers Limited) in Mumbai’s Lower Parel.

Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards said, “Mumbai, as India’s financial capital, continues to attract both domestic and multinational firms, particularly in the BFSI sector for self-use, reflecting its vital role in the country’s economic landscape. The recent acquisition by Nippon Life India Asset Management Ltd. exemplifies this ongoing trend. While Bandra-Kurla Complex (BKC) remains a flagship commercial hub, there is a noticeable uptick in demand for office spaces in micro-markets such as Lower Parel, Andheri, and the Malad-Goregaon corridor from MNCs. We anticipate a strong and sustained commercial demand in key localities, particularly for Grade-A office spaces, since the vacancy in such buildings in Mumbai is negligible. We are also witnessing more than a 40% increase in market value for Grade-A spaces for the first time in a decade, highlighting Mumbai’s status a global business powerhouse.”

According to Square Yards, the transactions, both registered in November 2024, involve a total transacted area of 4,846.01 square meters (~52,162 square feet). The first acquisition, valued at Rs 245.18 crore, spans 2,444.56 sq. m. (~26,313 sq. ft.), with a stamp duty of Rs. 14.70 crore and includes 44 car parking spaces. The second acquisition, valued at Rs. 240.85 crore covers 2,401.45 sq. m. (~25,849 sq. ft.), with a stamp duty of Rs. 14.45 crore and include a total of 43 car parking spaces.

Nippon Life India Asset Management Ltd. (NAM India), a leading player in the Indian asset management industry, leverages 134 years of global expertise and over 25 years of experience in the domestic market. As one of the largest asset managers in the country, NAM India, through Nippon India Mutual Fund, provides a wide array of financial products and services designed to meet the diverse needs of investors. Backed by Nippon Life Insurance, a global financial services giant, the company remains committed to innovation and excellence, with a portfolio spanning equity, debt, and hybrid asset categories.

In a strategic expansion move, Nippon Life India Asset Management has acquired two premium commercial properties at One Lodha Place in Mumbai's Lower Parel locality, for a combined value of Rs 4.8 billion, according to IGR documents reviewed by Square Yards. Lower Parel is a major commercial suburb of Mumbai known for its premium office spaces. The locality is situated near international airport, the Eastern Express Highway and the Bandra-Worli Sea Link, providing excellent connectivity to other parts of the city. One Lodha Place is ready-to-move commercial project developed by Lodha Group (Macrotech Developers Limited) in Mumbai’s Lower Parel. Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards said, “Mumbai, as India’s financial capital, continues to attract both domestic and multinational firms, particularly in the BFSI sector for self-use, reflecting its vital role in the country’s economic landscape. The recent acquisition by Nippon Life India Asset Management Ltd. exemplifies this ongoing trend. While Bandra-Kurla Complex (BKC) remains a flagship commercial hub, there is a noticeable uptick in demand for office spaces in micro-markets such as Lower Parel, Andheri, and the Malad-Goregaon corridor from MNCs. We anticipate a strong and sustained commercial demand in key localities, particularly for Grade-A office spaces, since the vacancy in such buildings in Mumbai is negligible. We are also witnessing more than a 40% increase in market value for Grade-A spaces for the first time in a decade, highlighting Mumbai’s status a global business powerhouse.” According to Square Yards, the transactions, both registered in November 2024, involve a total transacted area of 4,846.01 square meters (~52,162 square feet). The first acquisition, valued at Rs 245.18 crore, spans 2,444.56 sq. m. (~26,313 sq. ft.), with a stamp duty of Rs. 14.70 crore and includes 44 car parking spaces. The second acquisition, valued at Rs. 240.85 crore covers 2,401.45 sq. m. (~25,849 sq. ft.), with a stamp duty of Rs. 14.45 crore and include a total of 43 car parking spaces. Nippon Life India Asset Management Ltd. (NAM India), a leading player in the Indian asset management industry, leverages 134 years of global expertise and over 25 years of experience in the domestic market. As one of the largest asset managers in the country, NAM India, through Nippon India Mutual Fund, provides a wide array of financial products and services designed to meet the diverse needs of investors. Backed by Nippon Life Insurance, a global financial services giant, the company remains committed to innovation and excellence, with a portfolio spanning equity, debt, and hybrid asset categories.

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..