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Four-storey Building was sold to Axis Bank

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As per the sources with www.propertykhazana.com, Wadia had sold out its four-storey commercial building to Axis Bank at Worli for Rs. 640 Crores, making it as one of the expensive in the country. Nusli Wadia left Wadia Group and confirmed the jumbo contract with Axis Bank which was setting up to move its head office to that building. The contract made lot of interest in Mumbai’s realty market and some sources in realty rounded and had hooked the price at Rs. 900 Crores, but that was low-priced from one of the senior envoy of leading economical institution and he had said to be aware of nitty-gritty’s of the transaction and Wadia’s were engaged for the statement.
Meantime, speaking about the Axis Bank’s representative said that “At this time we don’t have any statements to present.” The commercial Wadia building which is situated in the Bombay Dyeing Mill compound on Pandurang Budhakar Road had a profitable area of 4 Lakhs Sq.ft which was worked out for Rs. 16,000 per Sq.ft.
In continuation speaking to the www.propertykhazana.com the envoy of a global property consultancy firm said that, “Contract of this scale for a complete building was not to avail and this was far of its main kind.” Axis Bank is one among the three biggest lenders in the country and has shifted its head office to Wadia Tower ‘A’ from its pervious office which was in Maker Towers in Cuffe Parade. Many fiscal companies had transferred to new business centers like the Bandra-Kurla Complex and Kalina and Wadia was considered to be one of the Mumbai’s Largest Land owners by controlling 64 acres in prime central Mumbai where it was constructing 1 Million Sq.ft of housing space.
Source: NIMMA BENGALURU

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