vIndianz.com (25 Feb, 2010) — Mumbai: A new four-storey commercial building at Worli is being sold for Rs 640 crore, pitching it as one of the costliest in the country, reports The Indian Express. The Nusli Wadia-led Wadia Group has finalised the mega deal with Axis Bank, which is planning to shift its headquarters to the building.
The deal generated a lot of interest in Mumbai’s property market and some sources in real estate circles had pegged the price at Rs 900 crore. But this was discounted by a senior representative of a leading financial institution who was said to be aware of the nitty-gritties of the transaction.
Axis Bank, one of the three largest lenders in the country, plans to move out of its existing offices in Maker Towers in Cuffe Parade and set up its headquarters in Wadia Tower A. Several financial sector companies have already relocated to new business centres like the Bandra-Kurla
Complex and Kalina.
The Wadias, considered to be one of Mumbai’s biggest land owners, control 64 acres in prime central Mumbai where they are also developing 1 million square feet of residential space, the report added.
Further Reading- The Financial Sector Keeps Shrinking – BusinessWeek
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