Nippon Life India Asset Management has finalized a high-value agreement with real estate giant Lodha, operating under the name Macrotech Developers, to purchase office space in the upscale commercial tower One Lodha Place. Located in Mumbai’s bustling Lower Parel business district, this property spans two floors and comes with a price tag of ₹486 crore.
The newly acquired office space covers 52,162 sq. ft. across the 29th and 30th floors of the tower, which stands tall with a total of 36 floors. Nippon Life India plans to relocate its corporate headquarters to this state-of-the-art location, moving from its current address at Peninsula Business Park in the same vicinity.
Key Details of the Transaction
Sources are aware to the transaction revealed, “The deal was registered on Thursday noon. The buyer has already paid part of the agreed amount along with the stamp duty and is expected to pay ₹400 crore by December 6.”
In its regulatory filing, Nippon Life India confirmed there are no shareholding links between the company and the selling entity. Furthermore, the transaction does not fall under the category of a related party transaction. However, the filing did not explicitly disclose the company’s plans to shift its headquarters to the new premises.
Emails from The Economic Times seeking comment from Nippon Life India Asset Management and Lodha went unanswered. JLL India, which served as the transaction advisor, also declined to comment.
Exclusive Rights and Modern Facilities
As part of the purchase, Nippon Life India will enjoy exclusive signage rights for the two floors they will occupy in One Lodha Place. This move is expected to bolster the company’s brand visibility in one of Mumbai’s prime business hubs.
Nippon Life India’s Market Leadership
Nippon Life India Asset Management is a trailblazer in India’s financial sector, offering diverse investment products including mutual funds, ETFs, portfolio management services, and alternative investment funds. The firm made history as the first asset management company to be publicly listed in India, debuting on the stock market in 2017.
