Iconic American Center in South Mumbai Acquired by HoABL Infraworld for INR 56 Crore

Mumbai:

Historic Landmark Finds New Ownership

The iconic American Center, a ground-plus-seven-storey structure in South Mumbai, has been acquired by HoABL Infraworld Pvt Ltd, led by Abhinandan Lodha, for ₹56 crore. Spanning 1,337 square meters with a development potential of 60,000 square feet, this purchase marks a significant milestone in Mumbai's real estate sector.

A Symbol of US-India Relations

Built in 1968, the American Center was a key institution under the US Consulate General in Mumbai, housing the American Library, US-India Educational Foundation, and press and cultural offices. “For generations, the Center fostered cultural and commercial ties between the US and India,” said US Consulate spokesperson Greg Pardo.

Vision for Future Development

HoABL Infraworld envisions transforming the property while respecting its legacy. “The Indian real estate market is evolving, driven by demand and favourable policies. This acquisition aligns with our commitment to strategic growth,” stated Abhinandan Lodha, chairman of HoABL Infraworld.

A Deal Years in the Making

Initiated during the peak of the pandemic in 2021, the transaction faced delays awaiting government approvals. With approvals now secured, the deal reflects resilience and strategic foresight in the real estate market.

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Disclaimer

This article is based on a press release and publicly available information as of December 3, 2024. All statements are attributed to their respective sources.