CDSL acquires office space worth Rs 163 crore in Mumbai's Lower Parel

The Central Depository Services Ltd (CDSL) has bought a commercial space worth Rs 163 crore in Lower Parel of Mumbai from Marathon Group, according to a statement from the real estate developer.

CDSL acquired an office space measuring over 46,000 sq ft carpet area on the 34th and 35th floors of the tower -- Marathon Futurex -- for Rs 163.16 crore.

This is the most recent deal, which concluded with Central Depository Services (India), the first listed Indian central securities depository.

The statement also said commercial real estate sales have significantly picked up over the course of 2022, and demand and absorption seem to have now truly recovered post the pandemic shock suffered by the industry.

Mumbai-based real estate firm Marathon Group has sold commercial space worth over Rs 400 crore this year alone at its flagship commercial project in Lower Parel - Marathon Futurex, according to the statement.

"A combination of several factors worked in our favour in concluding this deal... With the Deslise road bridge finally set to reopen, even road traffic issues will soon be eased. This enables employers to attract talent from all over the city," said Mayur Shah, Managing Director, Marathon Group.

The real estate company said over 7,000 office goers work at Futurex daily, with more than 10 lakh sq ft of business spaces already operational.

In the statement, Marathon also said it had also launched a commercial tower in Mulund called Marathon Millennium and has plans for a commercial tower at Byculla in a joint venture with Adani Realty.

( With inputs from ANI )