Godrej & Boyce Sells Premium Mumbai Office Spaces In Vikhroli For ₹157 Crore: Report

Godrej & Boyce Sells Premium Mumbai Office Spaces In Vikhroli For ₹157 Crore: Report

The North tower in the Godrej one building, where these offices are located has two basement levels and 11 floors for office use.

G R MukeshUpdated: Monday, May 27, 2024, 07:56 PM IST
article-image
Godrej & Boyce Sells Premium Mumbai Office Spaces In Vikhroli For ₹157 Crore: Report |

The Godrej and Boyce Manufacturing Company, a mixed-use development project that combines commercial offices with luxury residential units has made major real estate transactions, selling premium office spaces to Godrej Industries Limited for Rs 157 crore in Mumbai's Vikhroli, reported Moneycontrol.

As per the report of Moneycontrol, citing document accessed by Propstack, the sale involves two office spaces located in the posh Godrej One tower in Vikhroli, Mumbai. The agreement for this transactions was finalised on April 30.

About the office spaces

The first office space, situated in the 8th floor of the north tower in the Godrej One building, spans 24,364 square feet and the second office space is on the 9th floor of the same floor, added the Moneycontrol report.

The North tower in the Godrej one building, where these offices are located has two basement levels and 11 floors for office use.

In addition to the office space, the deal also includes a 75 parling spaces.

Godrej Family spilt

Spannig from soaps and home appliance to real estate market, the founding family of the 127 year old Godrej Group earlier this month has announced that the group has reached an agreement to split the conglomerate .Adi Godrej and his brother Nadir will retain control of Godrej Industries which has five listed firms, meanwhile, their cousins Jamshyd and Smita will take over the unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai.

Real estate holdings

As per various reports on the Godrej group split, it added that the Godrej & Boyce (G&B) will keep real estate worth crores, mostly prime land in Mumbai's suburbs, under its control.

The G&B owns around 3,400 acres of land in Mumbai, including a 3,00 acre area in Vikhroli, that could be worth over Rs 1 lakh crore. It can develop 1,000 acres, while about 1,750 acres area are covered with mangroves, home to rare plants and birds. About 300 acres have already been encroached upon.

RECENT STORIES

Domestic Air Passenger Traffic Rises 4.4% To 1.37 Cr In May

Domestic Air Passenger Traffic Rises 4.4% To 1.37 Cr In May

RBI Slaps ₹1.45 Crore Penalty On Central Bank of India

RBI Slaps ₹1.45 Crore Penalty On Central Bank of India

Vedanta's Arm Western Cluster Limited To Invest $2 Billion In Liberia's Mining Sector

Vedanta's Arm Western Cluster Limited To Invest $2 Billion In Liberia's Mining Sector

Finsquare Edge Private Limited: Pioneering Financial Freedom With Expertise And Innovation

Finsquare Edge Private Limited: Pioneering Financial Freedom With Expertise And Innovation

India To Auction About 62 Coal Blocks Next Week With No End-Use Restriction

India To Auction About 62 Coal Blocks Next Week With No End-Use Restriction