Mumbai realty deal: Standard Chartered sells BKC office unit for Rs 197 crore

Standard Chartered Bank has sold a commercial office property in Parinee Crescenzo, a business tower in Mumbai’s Bandra Kurla Complex (BKC), to Advanced Realty for Rs 197 crore, according to property documents.The office unit has a chargeable area of 28,516 sq ft and a carpet area of 27,003 sq ft, along with 27 car parking slots. The deal, registered on February 2, 2026, translates to a rate of about Rs 69,084 per sq ft on the chargeable area, according to documents accessed via realty data analytics platform Propstack, as cited by the Economic Times.Parinee Crescenzo currently hosts a range of multinational corporations, banks, financial services firms and professional services companies.

Standard Chartered Bank also owns other office space in the tower and will continue to operate from the property.In recent years, large financial services firms and multinational occupiers have been reassessing owned real estate portfolios amid evolving workplace strategies, increased adoption of hybrid work, and shifting capital allocation priorities.This has led to selective asset sales even in prime business districts, alongside a preference for long-term leases in high-quality developments.

Bandra Kurla Complex remains one of Mumbai’s most sought-after office micro-markets, supported by its central location, strong infrastructure, and concentration of financial and corporate occupiers.High-quality office assets in core areas such as BKC continue to attract interest from investors and end-users amid limited supply and relatively stable demand.While office markets across Indian cities have seen mixed momentum, BKC has been comparatively resilient, backed by scarce new supply and sustained demand from financial services, legal, consulting and technology firms. Market participants expect transaction activity in the micro-market to continue, driven by selective acquisitions of well-located assets.