AZB & Partners and SNG & Partners advise on ICICI Prudential’s acquisition of a premium commercial property in Kalina-Vakola, Mumbai, for INR3.15 billion (USD33 million).
AZB & Partners acted for Mumbai-based real estate developer Kalpataru Group, which developed the commercial property. The transaction involved the purchase of a commercial tower, comprising around 60,000sq ft of floor space and 114 car parking spaces.
The acquisition forms part of ICICI Prudential’s strategic office relocation plans.
SNG & Partners provided end-to-end legal support throughout the transaction, including title due diligence and drafting and negotiating the transaction documents. Partner Sadhav Mishra and associate partner Samreen Paloba led the transaction team.
