Mumbai, June 12, 2024 — The UK Consulate has finalized the purchase of 12 office units from Macrotech Developers Ltd, operating under the Lodha brand, in the prestigious One Lodha Place project located in Lower Parel, Mumbai. The transaction, valued at ₹101.2 crore, underscores the UK's commitment to strengthening its diplomatic presence in India.
According to documents accessed by Propstack, the Office of the Secretary of State for Foreign, Commonwealth, and Development Affairs of the United Kingdom has acquired these office spaces on the 19th floor of the tower, which encompass a total carpet area of 14,883 sq ft. The purchase also includes 14 car parking spaces.
The sale deed, registered on May 28, 2024, details that the property acquisition is part of the British High Commission's plans to relocate the British Deputy High Commission from its current location at Naman Chambers in Bandra East to the new office in Lower Parel. Notably, the transaction incurred a nominal stamp duty of ₹100, as diplomatic missions, consulates, and embassies are exempt from stamp duty under the Maharashtra Stamp Act 1958.
A spokesperson for the British High Commission stated, "We have purchased new office space at One Lodha Place, reflecting the importance the UK places in Mumbai as the financial and business capital of India. This investment underscores our ongoing commitment to further strengthen the UK-India bilateral relationship."
Strategically located on Senapati Bapat Marg, One Lodha Place is situated in Mumbai's prime business district. It is conveniently accessible, being just a 10-minute drive from the Worli Sea Link, within walking distance from Lower Parel station, and a short drive from Mahalaxmi station.
Queries have been sent to the Lodha Group for additional comments, and updates will be provided once a response is received.
This significant investment highlights the continued importance of Mumbai as a key hub for international diplomatic and business relations.
News Articles
Other Real Estate News Articles