November 8th 2023.
In a major commercial move, Rekha Jhunjhunwala's Kinnteisto LLP has purchased 1.94 lakh sq ft of commercial office spaces in both Bandra Kurla Complex (BKC) and Chandivali area of Mumbai for a whopping ₹740 crore.
As per the documents accessed by Propstack, a real estate data platform, the Chandivali purchase comprised of a 68,195 sq ft carpet area from Kanakia Spaces Realty Pvt Ltd and the deal included 110 car parking slots in the Boomerang building. The transaction was registered in October 2023.
In BKC, Kinnteisto LLP acquired 1.26 lakh sq ft of built-up area across four floors in the 'The Capital' building. The deal was made with Wadhwa Group Holdings Pvt Ltd and was valued at ₹601 crore, which included 124 parking slots. It was also registered in October 2023.
Rekha Jhunjhunwala stated that these purchases were made for the family from a long-term perspective. She further said that these assets are strategically located, as BKC is one of Mumbai's most expensive commercial hubs, making them secure investments. She is confident that these purchases will yield good returns as they are leased to marquee tenants.
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