1. Express Towers, Mumbai
Buyer: Blackstone India & Panchshil Realty
Deal: Rs 900 crore
Blackstone, which has a substantial real estate presence across India, added another feather in its cap in November by picking up Express Towers in the heart of Mumbai’s Nariman Point business district. The deal, for which the private equity firm teamed up with the Chordia brothers from Pune, marked their entry into the city. While precise numbers are hard to come by, estimates suggest that the building was sold at the rate of Rs 25,000 a square feet—a steal compared to NCPA Apartments, which sells at four times that rate.
2. Hindustan Lever House
Buyer: HDFC
DEAL: Rs 350-400 crore
After operating out of Ramon House since 1977, Housing Development Finance Corporation finally decided to buy an office of its own. Chairman Deepak Parekh had always considered Ramon House to be lucky. In July, HDFC bought Hindustan Unilever’s erstwhile headquarters at Backbay Reclamation in south Mumbai. While the value of the deal was undisclosed, it is expected to be about Rs 350-400 crore.
3. Darshan Apartments, Mumbai
Buyer: The Bulchandani family
Deal: Undisclosed amount
The latest deal in this block of sea facing apartments in Mount Pleasant Road in Mumbai’s plush Malabar Hill area went for a staggering Rs 1.35 lakh a square feet. The buyers: The Bulchandani family who already own three other duplex flats in the same complex.
Check out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. Click here to know more.
(This story appears in the 10 January, 2014 issue of Forbes India. To visit our Archives, click here.)
Thanks very much for your input. As part of my Masters Course I am doing a course in foreign investment through real estate and find it very interesting to know about the Abu dhabi foundation, thanks for sharing this, Ravi.
on Feb 5, 20144 biggest deals done in the year were from Mumbai...Sadly it is not due to better Real state scene in Mumbai but because of the lack of good infrastructure in other metros.
on Dec 31, 2013