Piramal Capital sells Mumbai commercial building for Rs 1.87 billion
Real Estate

Piramal Capital sells Mumbai commercial building for Rs 1.87 billion

Piramal Capital and Housing Finance Ltd (PCHFL) has sold the Napha Building, a standalone office tower in Mumbai’s Kalina locality, to Shoquba Realty for Rs 1.87 billion. The property, previously owned by Dewan Housing Finance Corporation Limited (DHFL), features a built-up area of 77,079 square feet and includes two basements, a stilt area, three podiums, and eight upper floors.

The transaction was finalised on September 27, 2024, through a deed of transfer, as per documents accessed via real estate data analytics firm Propstack. The buyer has paid a stamp duty of Rs 112.2 billion for the deal's registration.

Piramal Enterprises confirmed the sale through a regulatory filing, clarifying that the buyer is not related to the promoter group or affiliated companies. The company further stated that the transaction does not fall under the category of related party transactions. (ET)

Piramal Capital and Housing Finance Ltd (PCHFL) has sold the Napha Building, a standalone office tower in Mumbai’s Kalina locality, to Shoquba Realty for Rs 1.87 billion. The property, previously owned by Dewan Housing Finance Corporation Limited (DHFL), features a built-up area of 77,079 square feet and includes two basements, a stilt area, three podiums, and eight upper floors. The transaction was finalised on September 27, 2024, through a deed of transfer, as per documents accessed via real estate data analytics firm Propstack. The buyer has paid a stamp duty of Rs 112.2 billion for the deal's registration. Piramal Enterprises confirmed the sale through a regulatory filing, clarifying that the buyer is not related to the promoter group or affiliated companies. The company further stated that the transaction does not fall under the category of related party transactions. (ET)

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?