Tag: Vikhroli

CommercialLatest Stories

Godrej Industries Unit Acquires ₹365 Crore Office in Vikhroli

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…

Latest StoriesRegulatory

Mumbai Court Rejects Slum Classification for Godrej Land

Representational image MUMBAI: In a significant ruling for one of India’s oldest industrial groups, the Bombay City Civil Court has annulled a long-standing government notification that categorized Godrej & Boyce’s manufacturing land in Vikhroli as a slum area. This judgment effectively concludes the legal challenge, safeguarding the private property from state acquisition under the Maharashtra Slum Areas Act. Judge A.K. Kale stated, “It is hereby declared that no valid declaration exists under Section 4(1) of the Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act concerning the suit land. Defendant numbers 1 and 2 (additional collector and deputy collector ENC) are…

CommercialLatest Stories

Germany’s Bernhard Schulte Acquires Mumbai Office Space

Global maritime giant Bernhard Schulte Shipmanagement (BSM) has acquired a custom-built six-floor office space in the Kalpataru Virtus project, located at the LBS-JVLR junction in Mumbai’s Vikhroli suburb, for more than Rs 304 crore, according to sources familiar with the matter. This acquisition, finalized on Thursday, represents one of the largest office space purchases by an international shipping company in India. “This new office will become BSM’s headquarters in India, bringing together its ship management, crewing, technical, and digital operations, while also allowing room for growth,” stated one insider. The company has acquired approximately 1 lakh sq ft of office…