The sale deed for this transaction was officially registered on May 28, 2024. Remarkably, the diplomatic nature of the acquisition exempts it from stamp duty under the Maharashtra Stamp Act 1958, with only a nominal ₹100 fee paid…reports Asian Lite News
Documents accessed by Propstack reveal that the Office of the Secretary of State for Foreign Commonwealth and Development Affairs of the United Kingdom of Great Britain and Northern Ireland has made a significant investment in Mumbai’s real estate sector. The UK Consulate has purchased 12 office units from Macrotech Developers Ltd, operating under the Lodha brand, in the prestigious One Lodha Place project located in Lower Parel. The transaction, valued at ₹101.2 crore, marks a notable move in the city’s commercial property market.
According to the documents, the acquired office spaces are situated on the 19th floor of One Lodha Place, spanning an impressive total area of 14,883 sq ft (carpet area). Additionally, the property includes 14 dedicated parking spaces, enhancing its appeal as a prime business location.
The sale deed for this transaction was officially registered on May 28, 2024. Remarkably, the diplomatic nature of the acquisition exempts it from stamp duty under the Maharashtra Stamp Act 1958, with only a nominal ₹100 fee paid.
Further details from the attached documents reveal that the British High Commission intends to utilize the newly acquired office space for relocating the British Deputy High Commission, Mumbai, from its current premises at Naman Chambers in Bandra East.
In response to inquiries, both Lodha Group and the British High Commission have been contacted for comments, and updates will be provided as soon as responses are received.
Strategically positioned on Senapati Bapat Marg in Lower Parel, One Lodha Place enjoys a prime location within Mumbai’s bustling business district. Its proximity to key transportation hubs, including the Worli Sea Link, Lower Parel station, and Mahalaxmi station, underscores its accessibility and desirability for businesses and organizations alike, as highlighted on the real estate company’s website.
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