Mumbai's office realty market sees a surge in deals of over Rs 1 bn apiece

Mannapuram Finance, Mahindra and Bharti Axa are some of the firms known to have bought office spaces worth more than Rs 1 billion

While big fund houses like Blackstone and GIC are in the news for acquiring stakes in rental companies for billions of rupees, financial institutions and corporate groups are lapping up office properties worth over Rs 1 billion in Mumbai.

Recently, Kerala-based non-banking financial company Manappuram Finance bought a 60,000-square-foot property in the Kanakiya group’s office complex Wallstreet in the Andheri area of Mumbai for about Rs 1 billion.

Manappuram is expected to use the Wallstreet property as one of its main offices. A mail sent to Manappuram did not elicit any response. The Kanakiya group also did not respond to