The House of Abhinandan Lodha (HoABL) recently acquired the iconic American Center building in South Mumbai’s Marine Lines for over ₹56 crore.
Luthra and Luthra Law Offices India advised the US Government on all aspects entailing the vendor’s due diligence, tax advisory, bidding process for the sale and drafting-cum-negotiations on the bidding memorandum, sale documents and registration process in Mumbai.
The transaction was magnificently led by Vaibhav Suri (Partner) and Manjul Mantri (Managing Associate).
Counsels who advised on other aspects of the transaction included:
Sanjeev Sachdeva (Partner) and Nikhil Kapoor (Senior Associate), Nikhil Kapoor on the applicability of GST on the transfer and exemption available to the U. S. Government.
Rubal Bansal (Partner) on the income tax aspects.
Harish Kumar (Partner) along with Itee Singhal (Partner) and Aman Nijhawan (Managing Associate) on the Ministry of External Affairs’ approval.
The House of Abhinandan Lodha was represented by Jani & Parikh, Advocates and Solicitors on this transaction.
The transaction team consisted of Nirav Jani (Partner) and Namrata Jani (Senior Associate).
DSK Legal also advised The House of Abhinandan Lodha on this transaction.
The transaction team consisted of Sajit Suvarna (Deputy Managing Partner), Sagar Kadam (Partner), Mitali Naik (Partner) and Ritu Shetty (Senior Associate).
Originally built in 1968, the seven-story structure served as a residence for U.S. ambassadors and later as an administrative office for the U.S. Consulate before its relocation to Bandra-Kurla Complex (BKC). The building has been vacant for over a decade.
This acquisition marks HoABL's entry into vertical, city-centric developments, as the company plans to redevelop the 1,400-square-meter property into a super-luxury residential project. The project will offer approximately 60,000 square feet of high-end living space with panoramic views of Marine Drive and Mumbai Harbour. Expected revenue from the development could reach ₹750-800 crore. The deal required approvals from the Indian Ministry of External Affairs and the U.S. Embassy, taking nearly three years to finalize.
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