Polycab India Limited has acquired two floors in 'The Ruby' building covering over 55,400 sq. ft. area for a consideration of ₹202 crores and a stamp duty of over ₹10 crores.
Economic Laws Practice (ELP) represented Polycab India Limited on the deal.
The team was led by Aditya Khadria (Partner) and assisted by Rahul Veera (Principal Associate) and Rutu Nalawade (Senior Associate), represented Polycab in this transaction.
This was one of the biggest outright commercial property acquisitions in Mumbai. The 1.2-million-sq-ft development that counts EY India, ARCIL and Axis Bank as its key occupiers is a joint venture between Ruby Mills and Rohan Lifescapes. The project is the country's tallest commercial tower