Piramal Capital sells Mumbai commercial building for Rs 1.87 billion

08 Oct 2024 CW Team

Piramal Capital and Housing Finance Ltd (PCHFL) has sold the Napha Building, a standalone office tower in Mumbai鈥檚 Kalina locality, to Shoquba Realty for Rs 1.87 billion. The property, previously owned by Dewan Housing Finance Corporation Limited (DHFL), features a built-up area of 77,079 square feet and includes two basements, a stilt area, three podiums, and eight upper floors.

The transaction was finalised on September 27, 2024, through a deed of transfer, as per documents accessed via real estate data analytics firm Propstack. The buyer has paid a stamp duty of Rs 112.2 billion for the deal's registration.

Piramal Enterprises confirmed the sale through a regulatory filing, clarifying that the buyer is not related to the promoter group or affiliated companies. The company further stated that the transaction does not fall under the category of related party transactions. (ET)

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