MUMBAI: Godrej Seeds and Genetics Ltd, part of the Godrej Industries Group’s agri-business sector, has purchased office space across three floors in a commercial tower in Mumbai’s Vikhroli area for a total of Rs 366 crore.
The acquisition includes office spaces on the 6th, 7th, and 8th floors of Godrej One, indicating a consolidation of real estate assets within the group.
The total carpet area involved in this deal is 70,361 sq ft, with an effective rate of approximately Rs 52,000 per sq ft, as per property registration documents from Propstack, a real estate analytics platform.
The transaction was completed through three separate sales on March 6. The most substantial portion was for Rs 130.7 crore, covering 25,147 sq ft. Another deal was valued at Rs 123.1 crore for 23,672.51 sq ft, while the final transaction was for Rs 112 crore for 21,541.56 sq ft.
Godrej One, situated in Vikhroli, is the headquarters for the diverse Godrej Group and is recognized as a premier Grade A office development in the area.
This latest acquisition highlights a wider trend among major corporations to consolidate office spaces within group entities in key business districts like Mumbai, aiming for long-term cost efficiency and operational effectiveness.
RealtyDailyNews’s inquiry to Godrej Industries via email was unanswered at the time of publication.
Mumbai’s office market has shown steady demand for strata sales, particularly in established business districts and high-quality properties, despite leasing remaining the primary absorption method.
Vikhroli, alongside nearby micro-markets such as Powai and Kanjurmarg, has become a key office destination in the eastern corridor, benefiting from enhanced connectivity and significant integrated developments.
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