National Stock Exchange (NSE) has bought 80,000 square feet office space from Unmesh Joshi-led Kohinoor City in Kurla, one of the central suburbs of Mumbai, for Rs 120 crore, making it one of the biggest property deals in Mumbai Real Estate segment this year. Joshi is son of former Lok Sabha Speaker Manohar Joshi.

NSE, headquartered in the nearby Bandra Kurla Complex (BKC), paid Rs 15,000 per sq ft, which according to property consultants is a decent price given the current market conditions. Office properties in Kurla command a price of Rs 12,000-15,000 a sq ft.

“Ready office spaces get a good price as the supply is limited. Compared with BKC prices, the sale price is justifiable,” said Anuj Puri, chairman of Jones Lang LaSalle Meghraj, a property consultancy. BKC, which is 10 minutes drive from Kurla, commands a price of Rs 20,000-25,000 per sq ft.

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