Economic Times

Essar Group entity Arkay Holdings has sold a 6-storey residential building on Mumbai's Worli sea face to Surat-based diamond manufacturing and export firm Hari Krishna Exports for INR 185 crore. The deal for the property that is known as Panhar, which has nearly 20,000 sq ft was registered on Friday. The entire transaction was concluded through two agreements including assignment of lease of around half an acre land parcel and conveyance of the residential building. The land lease has been transferred for INR 47 crore, while the residential building has been sold for INR 138 crore.