Mumbai, June 6: A major land transaction has been recorded in Mumbai's western suburbs, with Advent Hotels International Limited transferring a large land parcel in Sahar village near the airport to Advent Convention and Hotels International Limited for Rs 275 crore.
According to property registration documents reviewed by CRE Matrix, the transaction involves land bearing CTS Nos. 220A, 221 (part), 225 (part), 226 (part), 227, 228 and 229 at Sahar village in Vile Parle, Mumbai. The property measures approximately 21,978.22 square metres.
The deed was registered for a consideration value of Rs 275 crore. The seller in the transaction is Advent Hotels International Limited, while the purchaser is Advent Convention and Hotels International Limited.
Strategic location near airport
The land parcel is located in the strategically important Sahar area, which is in proximity to Mumbai's Chhatrapati Shivaji Maharaj International Airport and has witnessed sustained real estate activity owing to its commercial significance and connectivity.
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As per the property registration document, the said land parcel comes under the commercial zone as per the Development Plan 2034 of Mumbai city.
Industry observers note that large land transactions in the airport influence zone continue to attract attention due to the limited availability of sizeable contiguous parcels and the area's potential for hospitality, commercial and mixed-use development.
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