Abhinandan Lodha. File
| Photo Credit: The Hindu
HoABL Infraworld Private Limited, led by Abhinandan Lodha, has announced the acquisition of the iconic American Centre in Mumbai for ₹56 crore.
The ground plus seven-storey structure spans 13,37.81 sq. metre with views of the Mumbai harbour on the east and the Marine Drive on the west. “This property, part of U.S. Consulate General in Mumbai, will have a developmental potential of around 60,000 sq.ft,” the company said.
“Built in 1968, the American Centre in Mumbai long served as a cornerstone of U.S.-India relations. Over the years, the property housed key institutions including the American Library, the U.S.-India Educational Foundation, the U.S. Foreign Commercial Service and the press and cultural affairs offices,” said Greg Pardo, spokesperson, American Consulate.
“For generations, the American Centre played a vital role in fostering U.S.-India people-to-people connections and advancing U.S.-India commercial and cultural ties,” he added. Abhinandan Lodha, chairman of HoABL Infraworld Private Limited said, “The Indian real estate market is at a pivotal juncture, fuelled by rising demand, favorable policies and evolving lifestyles.
“We entered this deal during the peak of the pandemic in 2021, purchasing the property with the understanding that the final agreement would follow post governmental approvals. Now that these approvals are in place, we are grateful to see the transaction successfully concluded,” he said.
Published – December 05, 2024 11:01 am IST
