Mumbai: Shapoorji Pallonji Group Sells 19,589 Sq Ft Land in Juhu for Rs 455 Crore
Mumbai, 11th December 2024: Shapoorji Pallonji Group has sold a 19,589.22 sq ft plot of land in Mumbai’s Juhu area for ₹455 crore to Agarwal Holdings Private Limited, as per registration records. “Agarwal Holdings Pvt Ltd has acquired the Juhu land parcel, valued at ₹455 crore,” Square Yards stated on December 10.
The seller of the property is Shapoorji Pallonji Gwalior Private Limited, part of the Shapoorji Pallonji Group, the report added.
The land spans 19,589.22 sq ft, and the transaction was finalized and registered in November 2024, with a stamp duty of ₹27.3 crore and registration fees of ₹30,000.
“Acquisitions like Agarwal Holdings Private Limited’s recent purchase in Juhu demonstrate Mumbai’s continued allure for both commercial and residential investments. Prominent locations like Bandra-Kurla Complex (BKC) and prime areas in Southern and Western Mumbai have solidified their status as highly desirable destinations for commercial and luxury real estate,” said Anand Moorthy, co-founder and CBO, Capital Market & Services at Square Yards.
A spokesperson from Shapoorji Pallonji Group noted, “Only a small portion of the Juhu land has been sold, with the larger part still retained by the group.”
An inquiry has been sent to Agarwal Holdings, and the article will be updated upon receiving a response.
In 2022, Agarwal Holdings purchased a 75,000 sq ft plot in Mumbai for ₹332.8 crore, which was anticipated to be used for redevelopment. This plot, located in Juhu, Santacruz West, spans 6,988.50 sq m, with a built-up area of 400 sq m. The transaction was recorded on September 7, 2022.
Details of the Real Estate Deal
Juhu continues to be a prime residential hub in Mumbai, favoured for its coastal charm, proximity to the international airport, luxury housing options, and robust social infrastructure. The area attracts affluent individuals, including several celebrities, due to its closeness to Juhu Beach and upscale amenities.
Agarwal Holdings Private Limited, founded on December 11, 2020, is a private, non-governmental company registered with the Registrar of Companies in Mumbai. The company specializes in providing support to financial institutions, including banks, investment firms, and insurance companies.
