Mumbai, June 24, 2024 — In a significant move in the real estate market, Unity Small Finance Bank has acquired commercial properties worth ₹400 crore in Mumbai. This acquisition includes two separate high-value transactions, as revealed by property registration documents.
In the first major deal, Unity Small Finance Bank secured several units in Wing A of Unity Towers located in Santacruz West for ₹227 crore. The seller in this transaction is Intercon Corporation Ltd. The acquired property spans 70,030 square feet and includes units on the ground and upper basement, and the first floor. Additionally, the bank has taken over the 2nd, 3rd, 4th, and 5th floors of the multi-storied building. The purchase also includes parking space for 120 cars. A stamp duty of ₹13.62 crore was levied on the transaction.
Simultaneously, Unity Small Finance Bank purchased multiple units from L&T Seawoods in Tower 1 of Navi Mumbai’s Seawoods Grand Central for ₹165.60 crore. This deal encompasses 20 office units with a combined carpet area of 97,920 square feet.
Unity Small Finance Bank, founded by Centrum Financial Services and BharatPe, is a digital-first lender headquartered in Mumbai. The bank operates 140 branches across 25 cities.
Email queries have been sent to Unity Small Finance Bank, Intercon Corporation Ltd, and L&T Seawoods. The story will be updated once responses are received.
This strategic acquisition strengthens Unity Small Finance Bank's presence in Mumbai and underscores its commitment to expanding its operational footprint. The Santacruz West property is notably close to the bank’s corporate office in Santacruz East, enhancing its strategic positioning in the city.
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