Rohan Lifescapes, south Mumbai redeveloper and Polycab India, wires and cables manufacturer in India announced the closure of Rs 202 crore transaction of outright deals for office spaces in The Ruby, the tallest commercial building located in Dadar, Mumbai. It will incur a stamp duty of 10 crores.
The 1.2-million-sq-ft development is a joint venture between Ruby Mills and Rohan Lifescapes. The space in question is a 55,383.65 sq ft expanse, sprawling across the 23rd and 24th floors, on Tulsi Pipe Road, according to a press statement.
Harresh Mehta, CMD of Rohan Lifescapes is very bullish on commercial real estate. He believes that the real estate sector in the south and central Mumbai is picking up. This is directly leading to the prompt revival of commercial real estate space post-COVID. Further, as employees are back in offices after a long virtual stint, the real estate segment is expecting a positive impact across all the spheres, he added.
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