Jhunjhunwala Backed Kinnteisto LLP Acquires Nearly 2 Lakh SqFt of Office Space in BKC and Andheri for INR 740 Crore

Mumbai - BKC:

Kinnteisto LLP, backed by Rekha Jhunjhunwala, has acquired prominent office space in commercial skyscrapers in the Bandra-Kurla Complex (BKC) and Andheri commercial business districts in Mumbai, for approximately 740 crore.

Rekha Jhunjhunwala is the spouse of the late Rakesh Jhunjhunwala, a billionaire stockholder renowned in Mumbai for his forty-year investment profession and a nickname akin to Warren Buffett in India.

The company has acquired 1.26 lakh square feet of office space across four floors in the BKC commercial tower for more than 601 crore as a result of these transactions. The second transaction in Andheri involves more than 68,195 square feet on the eighth floor of an office tower.

The offices on the four floors of BKC are 1.3L sq ft in area, while the space in Andheri is 68,195 sq ft.

In total, the purchaser has remitted stamp duty charges exceeding 44.06 crore, including over 8.27 lakh for the registration of the property in the Andheri commercial tower and 36.06 crore for the BKC tower. 

In both instances, the organisation purchased office space directly from the developers and presented the documents via Propstack. 

As per the buyer,these assets are leased to marquee tenants, generating high returns, and are also quite secure by virtue of their advantageous location and these had been purchased with the family's long-term welfare in mind.

The agreements also grant the company access to a combined sum of 124 parking spaces in the BKC tower. Similarly, the agreement for office space in Andheri stipulates that the company will have use of 110 parking spaces.