Mumbai, October 9, 2024 — Piramal Capital and Housing Finance Limited (PCHFL) has sold a prime commercial property located in Santacruz East, Mumbai for ₹187 crore to Shoquba Realty Private Limited. The transaction, which involves a land asset spread over 2,034 square meters and a commercial building spanning 77,079 square feet, was registered on September 26, 2024, according to property documents accessed by Propstack.
The deal includes a substantial property with two basement floors, a stilt floor, three podium levels, and eight additional floors. Piramal Enterprises had earlier disclosed the sale of this immovable asset through a regulatory filing, stating that PCHFL, a wholly-owned subsidiary of the company, had entered into the transaction.
For the transaction, a stamp duty of ₹11.22 crore and a registration fee of ₹30,000 were paid. This move marks a significant commercial real estate deal in the highly competitive Mumbai market, reflecting strong demand in the Santacruz area.
This sale is part of Piramal's ongoing strategy to streamline its real estate holdings and focus on its core business areas. The Santacruz East property is known for its strategic location, offering easy access to key transport hubs, making it a sought-after asset in Mumbai's booming real estate sector.
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