SBI Life insurance for a whopping $44 million
Mumbai: In what is being billed as the largest commercial property transaction of 2009, Mumbai-based real-estate developer Rustomjee has sold 1.42 lakh square feet of office space in Andheri East, Mumbai to public sector SBI Life insurance company for a whopping $44 million.
The deal was registered on Tuesday evening between the two parties, reports The Economic Times. The building is located on the Western Express Highway and has been certified as a 'green building' because of its energy efficient design.
"The negotiations for purchase of the commercial space were on for past three to four months," said a spokesperson for Rustomjee.
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