Construction firm Shapoorji Pallonji sells Key Land parcel in Mumbai for Rs. 455 crore

According to registration documents obtained by Square Yards, the Shapoorji Pallonji group sold a 19,589.22 square foot piece of land in the Juhu neighborhood of Mumbai to Agarwal Holdings Private Limited for Rs. 455 crore.

In a statement released on December 10, Square Yards stated that the Juhu neighborhood in Mumbai was worth Rs. 455 crore.

According to the statement, the vendor is Shapoorji Pallonji Gwalior Private Limited, a division of the Shapoorji Pallonji group.

The registration paperwork indicate that the property parcel is approximately 19,589.22 square feet in size. The deal was completed and registered in November 2024, with Rs. 30,000 in registration fees and Rs. 27.3 crore in stamp tax.

For Rs. 332.8 crore in 2022, Agarwal Holdings purchased a 75,000 square foot land in Mumbai with the intention of redeveloping it. The land is situated in Mumbai's Juhu, Santacruz West. The construction is 400 square meters, and the site is 6,988.50 square meters. September 7, 2022, was the date the contract was registered.

Juhu is still a popular residential area in Mumbai because of its excellent social infrastructure, premium property supply, coastline attractiveness, and close access to the international airport. Because of its closeness to Juhu Beach and first-rate amenities, the area draws wealthy people, including a number of celebrities.

Regarding this, Anand Moorthy, Co-Founder and CBO, Capital Market & Services, Square Yards says, "Transactions such as Agarwal Holdings Private Limited’s recent land acquisition in Juhu, highlight Mumbai's enduring appeal for commercial and residential investments. Key hubs such as the Bandra-Kurla Complex (BKC) and prime locations across Southern and Western Mumbai have firmly established themselves as sought-after destinations for commercial and luxury real estate”.