Mumbai Real Estate Boost As Sharekhan Sells Dadar Office For ₹45 Crore
Mumbai’s commercial real estate sector gained momentum as Sharekhan sold its 11,820 sq ft Dadar office in The Ruby for ₹45 crore, including 20 parking bays, marking a 42% appreciation since its 2010 purchase. The buyer, DE-Max Fincap Advisors, expanded within the same building, reflecting strong demand in central business corridors. The deal adds to a series of high-value Mumbai transactions this year, including major purchases in Vikhroli, Kalina and Lower Parel across developers, corporates and individual investors.
According to registration records, the property was purchased by a financial advisory company that already occupies space within the same complex. Industry analysts say such intra-building expansions suggest firms increasingly prefer consolidation within familiar high-efficiency buildings rather than relocating across the city. The asset, located in The Ruby near Dadar station, spans 11,820 sq ft of carpet area on the 18th floor and includes 20 dedicated parking spots—an amenity that continues to carry a premium in dense urban markets.The seller had originally purchased the office in 2010 for a little over ₹31 crore, marking an appreciation of around 42% over 15 years. Analysts note that while returns have moderated over the past decade compared to the pre-2010 boom period, stable, long-term appreciation for institutional-grade spaces demonstrates the resilience of Mumbai’s commercial corridors. An urban economist said the continued price strength reflects “sustained demand for transit-accessible offices, especially in developments offering modern infrastructure and reliable maintenance”.
The transaction attracted stamp duty of ₹3.27 crore, with the deal formally registered in early December. Though both the buyer and seller declined to comment, property consultants suggest the sale aligns with wider consolidation within Mumbai’s office market, where firms are increasingly opting for energy-efficient, accessible, and safety-focused buildings—an emerging priority as cities move towards healthier and more inclusive workplaces.This deal comes amid a spate of large-ticket office transactions across the metropolitan region. In Vikhroli, a global maritime operator recently acquired over 93,000 sq ft of usable office space for more than ₹300 crore, reflecting growing interest in emerging secondary business hubs. Meanwhile, a leading developer bought back a commercial tower in Kalina for ₹211 crore, a move market observers see as strengthening corporate portfolios ahead of a projected uptick in leasing activity.Celebrity-led investment moves have also contributed to market visibility. Earlier this year, an actor sold an office in Lower Parel for ₹8 crore, achieving a significant return over five years. Such deals, while smaller in scale, reinforce investor confidence in well-connected micro-markets that offer modern amenities and strong rental demand.
Mumbai’s commercial real estate continues to evolve as companies prioritise accessibility, flexible layouts, and sustainable infrastructure. As the city works towards more equitable and efficient urban development, the momentum in office transactions suggests corporate occupiers remain firmly committed to high-quality spaces anchored in transit-rich, strategically located precincts.
