Panasonic Life Acquires Rs 1.60 Bn Land Parcel in Mumbai

31 Jan 2025 CW Team

Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards said, “Mumbai continues to reinforce its position as a commercial powerhouse, driven by sustained strategic investments from leading major firms. The recent surge in land acquisitions and office leasing activity in key business areas such as Andheri, Lower Parel, Bandra-Kurla Complex amongst others along with growing interest in data centre developments across the metropolitan region, underscores the city’s enduring appeal for both global and domestic enterprises. Furthermore, the ongoing infrastructure upgrades and enhanced connectivity in Mumbai is fostering a dynamic and thriving business environment. This momentum is also spilling over into the residential market, driving demand across the city and its metropolitan region.”

Andheri East is a prominent commercial and residential hub in Mumbai, offering excellent connectivity via the Western Express Highway, Metro Line 1, and proximity to both domestic and international airports. The area hosts a thriving business ecosystem with SEEPZ, MIDC, and numerous corporate offices. Its well-developed social infrastructure includes reputed schools, hospitals, and entertainment facilities, while retail landmarks like Phoenix Marketcity and Infinity Mall enhance the lifestyle quotient.

The land, spanning approximately 6,586.90 sq m (~7,877.87 square yards), was acquired by Panasonic Life Solutions India Private Limited from River Rose Developers LLP, as per IGR property registration documents reviewed by Square Yards. The transaction included a stamp duty payment of Rs 9.60 crore and a registration fee of Rs. 30,000.

Panasonic Life Solutions India Pvt Ltd., a wholly owned subsidiary of Panasonic Corporation, is a leading player in India's electrical construction materials industry. Formerly known as Anchor Electricals, the company has been a pioneer in modular and non-modular switches since 1963. It offers a diverse range of wiring devices, fans, lighting, solar equipment, switchgear, cables, and power tools. Acquired by Panasonic in 2007, the company continues to expand with investments like its Daman facility, focusing on advanced electrical solutions.

Panasonic Life Solutions India has made a significant investment in the Saki Vihar Road, Andheri East, Mumbai, with the acquisition of a prime land parcel worth Rs 1.60 billion, according to property registration documents reviewed by Square Yards on the website of Inspector General of Registration (IGR) https://igrmaharashtra.gov.in. The transaction was registered in January 2025.Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards said, “Mumbai continues to reinforce its position as a commercial powerhouse, driven by sustained strategic investments from leading major firms. The recent surge in land acquisitions and office leasing activity in key business areas such as Andheri, Lower Parel, Bandra-Kurla Complex amongst others along with growing interest in data centre developments across the metropolitan region, underscores the city’s enduring appeal for both global and domestic enterprises. Furthermore, the ongoing infrastructure upgrades and enhanced connectivity in Mumbai is fostering a dynamic and thriving business environment. This momentum is also spilling over into the residential market, driving demand across the city and its metropolitan region.”Andheri East is a prominent commercial and residential hub in Mumbai, offering excellent connectivity via the Western Express Highway, Metro Line 1, and proximity to both domestic and international airports. The area hosts a thriving business ecosystem with SEEPZ, MIDC, and numerous corporate offices. Its well-developed social infrastructure includes reputed schools, hospitals, and entertainment facilities, while retail landmarks like Phoenix Marketcity and Infinity Mall enhance the lifestyle quotient.The land, spanning approximately 6,586.90 sq m (~7,877.87 square yards), was acquired by Panasonic Life Solutions India Private Limited from River Rose Developers LLP, as per IGR property registration documents reviewed by Square Yards. The transaction included a stamp duty payment of Rs 9.60 crore and a registration fee of Rs. 30,000.Panasonic Life Solutions India Pvt Ltd., a wholly owned subsidiary of Panasonic Corporation, is a leading player in India's electrical construction materials industry. Formerly known as Anchor Electricals, the company has been a pioneer in modular and non-modular switches since 1963. It offers a diverse range of wiring devices, fans, lighting, solar equipment, switchgear, cables, and power tools. Acquired by Panasonic in 2007, the company continues to expand with investments like its Daman facility, focusing on advanced electrical solutions.

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