Real Estate

Real Estate Transactions

IL&FS puts two office Mumbai buildings, more properties on the block

Economic Times  

Crisis-hit non-banking finance company Infrastructure Leasing & Financial Services (IL&FS) has put more commercial properties including two standalone prime properties Business Arcade and IL&FS House in Mumbai on the block. Monetisation of these properties, in the business district of Lower Parel and Chandivali, owned by the company and its subsidiaries, is expected to fetch over Rs 700 crore. The commercial tower Business Arcade spread over one-fifth of an acre in Lower Parel central business district has a total built up area of 28,591 sq ft. The tower developed on erstwhile Elphinstone Mill property has 14 upper floors apart from two basement and one stilt parking. IL&FS House in Mumbai's Chandivali suburb, owned by IL&FS Securities Services, is spread over 0.4 acre with total built up office space of 28,734 sq ft comprising of a basement, ground floor and 6 upper floors.