UK Consulate Acquires Office Space in Mumbai's Lower Parel Area for ₹101.2 Crore

The UK Consulate has made a significant investment in Mumbai's real estate market, acquiring 12 office units in the prestigious One Lodha Place in Lower Parel. The purchase, totaling ₹101.2 crore, reflects the consulate's commitment to enhancing its presence in the vibrant city.

The transaction, revealed through documents accessed by Propstack, highlights the growing interest of international entities in India's commercial property sector. The office units, spanning 14,883 sq. ft. on the 19th floor of the tower, offer ample space for the consulate's operations.

Strategically located in Lower Parel, One Lodha Place provides convenient access to key business districts and transportation hubs, making it an ideal choice for diplomatic missions. The property's proximity to major infrastructure such as the Worli Sea Link further enhances its appeal. The property comes with 14 car parkings.

Notably, the sale deed, registered on May 28, 2024, reflects the exemption of stamp duty for diplomatic missions under the Maharashtra Stamp Act 1958. This exemption underscores the importance of fostering international relations and facilitating foreign investments.

The acquisition marks a significant milestone for the British High Commission, as it prepares to relocate the British Deputy High Commission, Mumbai, from its current location at Naman Chambers in Bandra East. The move underscores the consulate's commitment to strengthening ties with India's financial capital. 

UK Consulate's acquisition of office space in Mumbai's Lower Parel area not only underscores its commitment to expanding its footprint in India but also signals confidence in the city's thriving real estate market. Further details are expected to emerge, shedding light on the motivations behind this strategic investment. 

Image source- constructionweekonline.in