In a significant real estate transaction, Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, has sold an IT Park in Mumbai’s Malad area to Clear Bridge Ventures LLP for ₹335 crore. The deal was registered on August 23, 2024, as per property registration documents accessed by CRE Matrix. The IT Park, situated on a 1.96-acre plot in the Linking Road area of Malad West, features a ground-plus-six-floor structure with a total saleable area of 1.47 lakh square feet.
The property also offers 123 car parking spaces and six vehicle slots. The stamp duty for the transaction amounted to ₹21.85 crore, according to official documentation. Despite attempts to reach out, neither Property Ventures (India) Pvt Ltd nor Clear Bridge Ventures LLP responded to email queries.
This sale adds to a series of notable real estate transactions in Mumbai. In another major land deal, Mahindra and Mahindra Limited sold a 20.5-acre non-agricultural land parcel in the city’s Kandivali area to Blueprintify Properties Pvt Ltd, a Pune-based real estate firm under the Rucha Group, for ₹210 crore. The transaction, registered on July 24, 2024, involved a stamp duty payment of ₹13.41 crore.
According to ANAROCK, a real estate consultancy firm, land transactions in India have remained subdued during the April to June quarter of 2024, with only 25 deals covering 325 acres, largely due to high prices and the general elections. This contrasts with 29 deals involving 721 acres during the same period last year.
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