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

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

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)

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)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code