Tag: K Raheja Corp

CommercialLatest Stories

Mindspace REIT Buys Mumbai & Pune Assets for ₹29.2B

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured three key central business district properties for ₹29.2 billion from K Raheja Corp. The board of K Raheja Corp Investment Managers, responsible for managing Mindspace REIT, approved the acquisition and a preferential issue of units totaling up to ₹18.2 billion. The company also announced the purchase of Pramaan Properties, which includes 0.45 million sq ft at Ascent – Worli in Mumbai, alongside an office building of 0.1 million sq ft located in Kalyani Nagar, Pune. Additionally, Sundew Real Estate, which owns 0.2 million sq ft at The Square Avenue 98…

CommercialLatest Stories

Sporta Technologies Leases 1.69 Lakh Sq Ft in Worli, Mumbai

Sporta Technologies, the parent company of the fantasy gaming platform Dream11, has secured a long-term lease for an office space spanning four floors in a commercial tower located in Mumbai’s Worli area. The deal involves total rental payments close to Rs 300 crore over the lease duration, marking one of the largest single-tenant office agreements in the city this year. The company has signed an agreement with K Raheja Corp to lease a 169,250 sq ft office space in the Ascent Worli project on Sudam Kalu Ahire Marg. This lease, lasting 60 months and featuring a 36-month lock-in period, includes…

IndustryLatest Stories

Mindspace REIT’s NOI Up 26% to ₹634 Crore in Q2 FY26

NEW DELHI: Mindspace Business Parks REIT announced a 26% rise in its net operating income (NOI), reporting Rs 634 crore for the second quarter of the fiscal year, up from Rs 504 crore in the same period last year. The company will distribute Rs 355 crore to unitholders for this quarter, which marks a 16.3% increase from Rs 305 crore last year, according to a regulatory filing. Ramesh Nair, CEO and MD of Mindspace REIT, stated, “This quarter, Mindspace REIT maintained its strong momentum with leasing of 0.8 million sq ft and a re-leasing spread exceeding 28%. This reflects robust…

IndustryLatest Stories

K Raheja Targets 1.5-Acre Famous Studios in ₹650 Crore Deal

Representational AI Image. Famous Studios, a landmark in South Mumbai renowned for film, television, and advertising shoots since 1946, is on the verge of a change in ownership with a transaction valued at approximately ₹650 crore, according to sources familiar with the matter. Real estate developer K Raheja Corp is in advanced negotiations to purchase the 1.5-acre site located on Dr E Moses Road, which overlooks the Mahalaxmi Racecourse and has hosted numerous generations of Bollywood and advertising luminaries. “The company is expected to finalize the deal as a joint development agreement, involving the sharing of developed space with the…

IndustryLatest Stories

K Raheja Corp Acquires 7.4 Acres in Pune for ₹200 Crore

Representative image created by AI Realty developer K Raheja Corp’s subsidiary, KRC Queens, has purchased a significant 7.43-acre land parcel in Pune’s Mahalunge locality from Mahalunge Real Estate Developers for approximately ₹200 crore. The acquisition holds the potential for 1.7 million sq ft of built-up area, marking it as one of the largest land purchases in Pune’s western corridor in recent months. The Mumbai-based company has also paid a stamp duty of ₹13.67 crore for the registration of the deal, which was finalized on July 21, as per documents sourced through CRE Matrix, a real estate data analytics platform. Located…

CommercialLatest Stories

Wipro Leases 3.87 Lakh Sq Ft Office in Airoli for 10 Years

IT giant Wipro Ltd has acquired office space across eight floors totaling 387,000 square feet at K Raheja Corp’s IT special economic zone (SEZ) Mindspace Business Park in Navi Mumbai’s Airoli area through a long-term lease exceeding 10 years. The deal, finalized through two agreements, is set at a monthly rent of Rs 2.48 crore, with a provision for a 5% annual increase. Over the lease period, Wipro is projected to pay approximately Rs 328 crore, inclusive of escalations. This IT SEZ is owned and managed by K Raheja Corp’s listed Mindspace Business Parks Real Estate Investment Trust (REIT). The…