UK Consulate Acquires Prime Office Space in Mumbai

12 Jun 2024 CW Team

The Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom has secured over 1.60 lakh sq ft of prime office space in Mumbai?s Lower Parel business district. The acquisition, spread across 12 units on the 19th floor of One Lodha Place, was completed for over Rs 1.01 billion.

The transaction, concluded on May 28, was registered with a nominal stamp duty payment of just Rs 100, taking advantage of the exemptions granted to consulates in India. These diplomatic privileges align with international conventions and national laws, allowing significant savings from the usual 6% stamp duty on property transactions.

The UK Consulate, currently located in Bandra-Kurla Complex (BKC), is set to move its operations to the newly acquired space in Lower Parel. This strategic move reflects a long-term commitment to Mumbai, underscored by the outright purchase of the property.

The 173-meter One Lodha Place, developed by One Place Commercial Pvt Ltd, part of Macrotech Developers, features 28 floors, 10 podium levels, two basement levels, two service levels, and a terrace.

The broader Mumbai office property market has shown robust performance, with a 13.8% year-on-year growth in gross leasing, totaling over 15.16 million sq ft in Q1 2024. This marks the third consecutive quarter where gross leasing has surpassed the 15 million sq ft mark, continuing the momentum from the historical high of 20.94 million sq ft in Q4 2023.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..