For Rs 88.74 crore, Avenue Supermarts purchases 17 commercial units in Mumbai

8 Sep 2023 , 11:43 AM

The parent firm of the D’Mart supermarket chain, Avenue Supermarts Ltd, paid 88.74 crore for three floors of shop space in a 31-story residential building in Kandivali West.

According to registration paperwork discovered and posted by Propstack.com, the transaction registered on August 24 involves 45,876.92 sq ft of space on the ground, first, and second floors of Gauri Residency in Kandivali’s Babrekar Nagar.

The supermarket chain has purchased three units in the basement, three units on the ground floor, three units on the first floors, and eight units on the second floor of the 31-story under-construction building, according to the agreement for sale between the project promoters Gauri Land Developers LLP and Avenue Supermarts Ltd. The amended possession date for the RERA-registered project Gauri Residency is December 31, 2023.

The total carpet area of the 17 units that were purchased is 45,876.92 square feet, and the built-up area is 47,235.77 square feet. Avenue Supermarts additionally paid a stamp duty for the transactions in the amount of Rs 4.04 crore. The records state that the sale includes 44 parking spaces.

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