Tata Investment Corporation, the non-banking financial arm of the Tata Group, has acquired two floors of premium office space in Mumbai’s Wadala area for approximately INR 150 crore. The purchase, part of the VIOS project at New Cuffe Parade, covers a sprawling 43,000 sq ft and includes exclusive access to 63 parking slots.

According to transaction documents, the deal was executed with NCP Commercial Pvt Ltd, with the office spaces in Lodha Excelus, a commercial tower developed by Macrotech Developers (Lodha Group). The acquisition includes 21,441 sq ft on the 17th floor for INR 74.24 crore and 21,300 sq ft on the 22nd floor for INR 73.76 crore. A stamp duty of over INR 8.80 crore was paid for the registration of the transaction.

The Lodha New Cuffe Parade development, where the property is located, spans 23 acres and includes 10 residential towers alongside three commercial buildings. Wadala has been emerging as a key business destination due to its strategic connectivity to the Bandra Kurla Complex (BKC)—India’s most expensive commercial hub—as well as South Mumbai and major highways leading to Navi Mumbai, Panvel, and Ulwe via the newly built Atal Setu bridge.

Tata Investment Corporation is headquartered at the Elphinstone Building near Horniman Circle in Churchgate, close to Bombay House, the Tata Group’s corporate headquarters. While the company has not confirmed whether this acquisition is for expansion or relocation, the move underscores a growing trend in India’s commercial real estate sector where companies opt for outright purchases rather than leasing office spaces.

India’s office property market has experienced substantial growth in recent years, fueled by demand from both domestic and international firms. Full ownership of office space is still relatively rare in the country’s corporate sector, with most companies preferring long-term leases. Long-term capital appreciation, stable rental income prospects, and strategic end-use planning often drive such investments.

This acquisition highlights Tata Investment Corporation’s long-term vision and confidence in Mumbai’s commercial real estate landscape, reinforcing Wadala’s position as a high-potential business hub.