Mumbai: UK Consulate Buys 12 Office Units Worth ₹101.2 Crore From Lodha Group In Lower Parel

Mumbai: UK Consulate Buys 12 Office Units Worth ₹101.2 Crore From Lodha Group In Lower Parel

In one of the major real estate deals in office spaces, the UK Consulate has purchased 12 office units from Macrotech Developers Ltd in the project One Lodha Place in Lower Parel for Rs 101.2 crore.

FPJ News ServiceUpdated: Monday, June 10, 2024, 10:40 PM IST
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Mumbai: UK Consulate Buys 12 Office Units Worth ₹101.2 Crore From Lodha Group In Lower Parel | Wikipedia

Mumbai: In one of the major real estate deals in office spaces, the UK Consulate has purchased 12 office units from Macrotech Developers Ltd in the project One Lodha Place in Lower Parel for Rs 101.2 crore.

According to the documents accessed by Propstack, India’s leading real estate data and analytics firm, the Office of the Secretary of State for Foreign Commonwealth and Development Affairs of the United Kingdom of Great Britain and Northern Ireland bought the office spaces.

Located on 19th floor, the total area of the 12 office units is 14,883 sq ft (carpet area) while a stamp duty of Rs 100 was paid for the transaction since diplomatic missions/consulates/embassies are exempted from stamp duty under the Maharashtra Stamp Act, 1958.

The property comes with 14 car parkings and the sale deed was registered on May 28, 2024. One Place Commercial Private Limited is part of Macrotech Developers, the listed entity of Lodha Group.

According to the documents, the British High Commission purchased the new office to relocate the British Deputy High Commission, Mumbai from its current location at Naman Chambers in Bandra East. Lodha Group cannot be contacted for the comment.

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