K Raheja Corp Real Estate Pvt Ltd has acquired a 5.73-acre land parcel on Ashok Chakravarty Road in Kandivali East, Mumbai, for ₹4.66 billion. The transaction, finalized on December 22, 2024, includes the purchase of the entire land and an existing building on the site. The deal also involved a significant stamp duty payment of ₹31.7 billion, underscoring the premium valuation of the property.
Strategic Location and Future Plans
The acquired land is situated in the bustling Kandivali East area, known for its strategic location and connectivity. This acquisition is expected to enhance K Raheja Corp’s real estate portfolio in Mumbai. The company plans to develop a mixed-use project on the site, which will include residential and commercial spaces, catering to the growing demand for integrated developments in the city.
Previous Acquisitions
In 2024, K Raheja Corp Real Estate made another significant acquisition in Mumbai, purchasing the land and buildings of Crossroad Condominium in the Haji Ali area for ₹4.76 billion. The property, previously home to the Sobo Central Mall owned by a Kishore Biyani company, was acquired as part of a debt resolution plan for non-performing assets.
About K Raheja Corp
K Raheja Corp is a leading real estate developer in India, with a diverse portfolio that includes residential, commercial, and retail projects. The company is known for its commitment to quality and innovation, delivering projects that meet the evolving needs of urban India.
These strategic acquisitions highlight K Raheja Corp’s continued expansion in Mumbai’s prime real estate market, reinforcing its position as a leading real estate developer in India.
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