K Raheja Expands Mumbai Portfolio with INR 355 Cr Acquisition of Iconic Properties

K Raheja Corp has added the iconic Bayside Mall to its portfolio. Located in South Mumbai's plush Tardeo locality, the mall spans over one-third of an acre and boasts a built-up area of 17,345 sq ft.

Once home to 105 retail units, the mall now features 75 units after strategic amalgamations.

Popular Press Building: A Neighboring Gem

Adjacent to Bayside Mall, the Popular Press Building, a ground-plus-two-storey structure spread over a quarter of an acre, has also been acquired in the deal. Together, these properties signify a strategic move for the developer in South Mumbai's real estate market.

A Multi-Crore Deal in Tranches

The deal, worth ₹355 crore, was finalized through Ivory Property Trust, part of K Raheja Corp. The payment was made in tranches: ₹120 crore at registration, another ₹120 crore on August 22, and the final tranche of ₹115 crore to be paid by November 20.

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K Raheja Corp’s Aggressive Expansion

This is the second significant acquisition by K Raheja Corp in South Mumbai this year. Earlier, it acquired the historic Central Mall at Haji Ali for ₹476 crore. The property, originally Crossroads Mall, is set to be redeveloped into a 50-storey sea-view superstructure with a revenue potential exceeding ₹2,000 crore.

South Mumbai’s Real Estate Renaissance

The acquisitions reflect K Raheja Corp's vision to redefine prime real estate in South Mumbai. By leveraging the development potential of these iconic properties, the company aims to reshape the city’s luxury and retail landscape.

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