In a significant real estate transaction, K Raheja Corp Real Estate Pvt Ltd has acquired a prime parcel of land along Ashok Chakravarty Road, Kandivali East, Mumbai, for an impressive sum of Rs 466 crore. The deal, which includes both land and a building situated on the property, was finalized with Global e-Service Pvt Ltd as the seller.
According to the papers accessed by CRE Matrix - A Real Estate Data Analytics Firm, the agreement was registered on December 22, 2024, with a stamp duty payment of Rs 31.74 crore. The total area of the acquired property spans 5.75 acres, marking a substantial addition to K Raheja Corp's expansive real estate portfolio.
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K Raheja Corp didn’t elaborate when asked about its plans for the acquired land parcel.
This acquisition highlights the growing interest in Mumbai’s suburban commercial and residential markets. Kandivali East, known for its connectivity and robust infrastructure, continues to attract major real estate players seeking to capitalize on the locality's development potential.
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Industry experts suggest that such high-value transactions reflect sustained confidence in Mumbai’s real estate sector, despite evolving market dynamics. The strategic location of this property is expected to bolster K Raheja Corp's future development plans in the city.
