Standard Chartered Bank has sold a premium office unit in Mumbai’s Bandra Kurla Complex (BKC) for Rs. 197 crore, according to property registration documents. The transaction was registered on February 2, 2026, and reflects continued activity in one of India’s most expensive commercial districts.
The buyer is Advanced Realty Private Limited, while the property is located in Crescenzo Business District, also known as Parinee Crescenzo, a landmark Grade A commercial development in BKC.
The office unit has a chargeable area of 28,516 sq. ft and was transacted at a rate of Rs. 69,084 per sq. ft. The carpet area measures 27,003 sq. ft, and the deal includes 27 car parking spaces, documents showed.
A closer look at the transaction
The sale involves a single, large office unit rather than an entire building, highlighting the strong liquidity even for partial assets in prime business locations. At nearly ₹70,000 per sq ft, the pricing reinforces BKC’s position as Mumbai’s most premium commercial micro-market.
Crescenzo Business District is known for its modern design, institutional-grade specifications, and proximity to key financial and corporate hubs. Assets in the complex are typically occupied by blue-chip tenants, making them attractive to investors seeking stable income and long-term value.
Why Bandra Kurla Complex commands a premium
Bandra Kurla Complex has evolved over the past two decades into Mumbai’s primary central business district. It houses the headquarters and offices of multinational corporations, global banks, financial institutions, and leading Indian conglomerates.
Limited land availability, robust infrastructure, and superior connectivity have ensured that office space in BKC remains scarce. This supply constraint, combined with consistent demand, has helped sustain premium valuations even during periods of market uncertainty.
As a result, every high-value transaction in BKC is closely tracked by investors, developers, and occupiers as a benchmark for the broader commercial property market.
What the asset offers
The office sold by Standard Chartered forms part of a Grade A commercial development, typically characterised by modern floor plates, advanced safety systems, energy-efficient design, and compliance with global office standards.
Such properties appeal strongly to institutional investors and high-quality tenants, particularly in sectors like banking, technology, consulting, and financial services. Their location within a well-established business district further enhances long-term rental potential.
Why corporates are monetising office assets
The transaction also reflects a broader trend among banks and multinational corporations to reassess owned real estate. Many companies are opting to monetise office assets to unlock capital and redeploy funds into core business operations.
With hybrid work models and flexible office strategies gaining ground, outright ownership of large office spaces is no longer seen as essential for all corporates. Selling owned assets improves balance sheet flexibility while allowing firms to shift towards leasing arrangements that can be scaled up or down.
Investor interest remains strong
Despite changing workplace dynamics, investor appetite for prime office assets remains intact. Well-located commercial properties in districts like BKC are viewed as relatively defensive investments, offering steady rental income and long-term capital appreciation.
The interest shown by Advanced Realty Private Limited underlines confidence in Mumbai’s office market fundamentals, particularly for assets with strong location credentials and quality specifications.
What this means for Mumbai’s office market
High-value transactions such as this reinforce confidence in Mumbai’s commercial real estate ecosystem. They signal that institutional-grade office assets remain liquid and desirable, even as occupiers rethink space usage.
For the broader market, deals in BKC continue to set pricing benchmarks and provide insight into investor sentiment. As long as demand for top-tier office locations outpaces supply, Mumbai’s premier business districts are likely to retain their premium status.
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