HDFC to buy office space in Lower Parel worth Rs 220 crore
One of the leading banks in India, HDFC Bank is planning to buy an office space of approximate 1.3 lakh sqft at Lower Parel. The building is situated in Peninsula Business Park at Lower Parel in Central Mumbai and is spread over four floors.
As per reports, the bank is paying around Rs 17,000 per sqft summing upto Rs 220 crore for the space in the 20 storey Tower B in Peninsula Business Park owned by Alok Realtors.
It has also been reported that HDFC Bank is expected to pay the revenue in two installments. The reason for buying this space is to expand its operations and also shift some of other operations from other offices.
Areas like Lower Parel, Dadar, Worli and Prabhadevi in Central Mumbai has for some time been witnessing good sales in commercial space. Nearly 9 million sqft of area has been out for sale in the last three quarters.
Rental value for office space in Chennai remains constant
Central Mumbai, HDFC, HDFC bank, HDFC buys office space, Lower Parel, Mumbai, office space in Lower parel, Peninsula Business Park, Prabhadevi
