Tata Investment buys office space at Wadala for ₹148 crore

Tata Investment Corp buys two floors at Lodha Excelus in Wadala for ₹148 crore, expanding its office space in the 28-floor commercial building.

MUMBAI: Expanding its office space at Lodha Excelus, a residential-cum-commercial space in Wadala spread over 22 acres, Tata Group’s Tata Investment Corp Limited has purchased two floors at the New Cuffe Parade project’s commercial building for a sum of ₹148 crore.

Tata Investment buys office space at Wadala for ₹148 crore

The commercial building has 28 floors. Tata Investment Corp has bought the 17th and 22nd floors that are spread across 21,441 sq ft and 21,302 sq ft, respectively, and comes with 63 parking slots.

Stamp duty of ₹8.88 crore was paid towards the deal, registered on January 10, according to papers accessed through real estate data analytics firm, CRE Matrix.

This is not the first purchase of the Tata Group in Lodha Excelus. In January 2019, Tata Group’s Trent Limited had purchased four floors and leased another for 25 years. The deal was then valued at approximately ₹300 crore for a total area of 1.50 lakh sq ft. In January 2020, Tata International’s global headquarters had moved to the same building.