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Thursday, December 17, 1998

Indian Hotels buys out Tata Housing realty 

Manju AB  
Mumbai, Dec 16: The Mumbai property market remained listless during November with the exception of a relatively big deal being the purchase of Tata Housing's office Dhanraj Mahal at Colaba by group associate Indian Hotels for a consideration of Rs 12.90 crore.

The Tata Housing corporate office has already been relocated to the Nelco complex at Andheri. The total area to be occupied by Indian Hotels measures about 1,128 square yards (excludng the common staircase and landing of 8,042 sq ft and open veranda).

Reckitt & Coleman sold off a bungalow-type residential premise at Hill Park in Malabar Hill at Rs 4.21 crore which works out to Rs 17,000 per square feet.

Llyods Realty sold three flats of Lloyds plaza at Matunga to Thirumalai Chemicals at 4.5 crore for each flat. The four flats together cost about Rs 12.9 crore.

Alpic Finance has sold about 25,000 square feet of office space at Andheri to Datamatics at Rs 10.15 crore

Caprihans Ltd has solf off one of its flats located at the Kalpataru Heights inMumbai Central to Asian Paints for a total price of Rs 1.63 crore.

Citibank has sold a flat admeasuring about 2400 square feet at Bellmont building at Napean Sea Road to a private party for a consideration of Rs 3.44 crore.

Eveready Batteries has sold off a flat at Worli admeasuring 1,720 square feet to Central Depostitory services for Rs 1.5 crore.

Jayant Vitamins has sold off its commercial premise at Raheja Centre, Nariman Point, to Karnataka Bank for Rs 1.63 crore for an area measuring 1,558 square feet.

Rossel Finance was another company which struck a reasonable deal in the lower-end segment. It sold off about 3,150 square feet of commercial space, along with a terrace of 3445 square feet at Sterling Centre in Worli to Trishakti Elctronics Rs 2.25 crore

Phoenix Mills has decided to sell its property, Phoenix House, to Scindia Investments. The area measures 5431 sq feet at Rs 2.80 crore. Aadesh International has bought about 1345 square feet from Everest Gems at Prasad chambers, Marine Linesfor Rs 4.70 crore.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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