Mumbai-based developer Raheja Universal Pvt Ltd has bought back a commercial office property in the city’s Kalina area from HDFC Bank Ltd for ₹211 crore, according to property registration documents reviewed by Propstack.
The property, Raheja Centre Point, spans a built-up area of 49,359 sq ft on a 2,464 sq m plot. It includes two basements, ground floor, five upper floors, and terrace space. The transaction was registered on September 9, 2025, with a stamp duty payment of ₹12.66 crore and registration fees of ₹30,000.
Raheja Centre Point was originally sold to HDFC through two transactions in December 2019 and March 2020 for a total of ₹167 crore. The earlier sale was part of HDFC’s portfolio realignment. Sources indicate that Raheja Universal repurchased the property through a competitive tender process.
The building is situated near Bandra Kurla Complex (BKC), India’s high-profile commercial business district. BKC hosts several Grade A office spaces and government offices and is home to multinational and Indian corporations including Jio, Apple, Netflix, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone. Government institutions such as the GST department, Reserve Bank of India, Income Tax Department, and the Family Court are also located in the vicinity, while the US Consulate maintains a sprawling campus inside BKC.
Analysts note that Kalina’s proximity to BKC makes it strategically attractive for office tenants seeking connectivity, infrastructure, and a prestigious business address. “Raheja Centre Point offers potential for rental appreciation due to its location near BKC and Grade A infrastructure standards,” said a real estate consultant familiar with the transaction.
The repurchase reflects Raheja Universal’s intent to consolidate its office portfolio in strategic locations. Industry observers point out that Mumbai’s office market is witnessing selective acquisitions and buybacks as developers seek to enhance asset ownership in prime districts amid rising demand for quality office space.
The Mumbai commercial real estate market has seen increased leasing activity from sectors including IT, consulting, financial services, and flexible workspace operators. High-quality office assets near central business hubs remain highly sought after, and acquisitions like Raheja’s buyback are expected to support rental growth and long-term portfolio value.
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