Sumitomo buys 2-acre Bombay Dyeing land in Mumbai for Rs 4.4 billion

13 Sep 2024 CW Team

Japan's Sumitomo Corporation Group has acquired a prime 2-acre land parcel in Mumbai's Worli area from Bombay Dyeing & Manufacturing Company for Rs 4.4 billion. Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, completed the purchase along with the associated floor space index (FSI) from Bombay Realty, the real estate arm of Bombay Dyeing.

This deal is part of a larger agreement signed last year, where Sumitomo agreed to acquire a total of 22 acres in Worli for Rs 52 billion. The entire transaction is being executed in two phases, with the first phase valued at Rs 46.75 billion and the remaining Rs 5.25 billion to be finalised upon fulfilling certain conditions by Bombay Dyeing.

Sumitomo has paid Rs 264.5 million in stamp duty for registering the deal, which was finalized on August 13, 2024. According to Rahul Anand, CEO, Bombay Realty, this transaction marks the conclusion of the land sale commitment, following the earlier development and sale of a 3.35 lakh sq. ft. commercial building.

Sumitomo has been expanding its presence in India’s real estate market, driven by rising demand for premium office and residential spaces. Last year, the company also secured a nearly 3-acre land parcel in Mumbai’s Bandra-Kurla Complex through an 80-year lease with the Mumbai Metropolitan Region Development Authority for Rs 20.67 billion.(ET)

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..