For ₹148 crore, Tata Group's Tata Investment Corp Limited has acquired two floors of the commercial building at the New Cuffe Parade project, expanding its office space at Lodha Excelus, a residential-cum-commercial space in Wadala spanning 22 acres.
The business building has 28 floors. Tata Investment Corp. purchased the 17th and 22nd floors, which measure 21,441 and 21,302 square feet, respectively, and include 63 parking spaces.
The Tata Group has previously acquired Lodha Excelus. In January 2019, Trent Limited, a part of the Tata Group, purchased four floors after leasing one for 25 years. For a total area of 1.50 lakh square feet, the deal was estimated to be worth ₹300 crore at the time. In January 2020, Tata International's global headquarters moved into the same building.
Key Details of the Transaction
Property: Complete 22nd and 17th floors of Lodha Excelus, New Cuffe Parade, Wadala, Mumbai
Seller: NCP Commercial Pvt Ltd
Purchaser: Tata Investment Corporation Ltd
Agreement value: Rs 148 crore for both floors (Rs 73.75 crore for the 22nd floor and Rs 74.24 crore for the 17th floor)
Stamp Duty: Rs 8.88 crore (Rs 4.42 crore for the 22nd floor and Rs 4.45 crore for the 17th floor)
Registration Date: January 10th, 2025
Total Carpet Area: 42,743 sq. ft. (21,302 sq. ft. on the 22nd floor & 21,441 sq. ft. on the 17th floor)
The Lodha Excelus office building is part of Macrotech Developers' Lodha New Cuffe Parade township project.
