Mumbai: Manipal Hospitals Acquires 2.62 Acres Of Land In Andheri For ₹415 Crore To Expand Healthcare Services

Mumbai: Manipal Hospitals, India's foremost multi-speciality healthcare providers catering to both Indian and international patients, has purchased 2.62 acres of land parcel at Andheri from Khubchandani Properties and Investments Pvt Ltd for Rs 415 crore. According to the CRE Matrix—a real estate data analytics firm, Manipal Hospitals paid stamp duty of Rs 27.33 crore.

The deal was registered on October 7, 2024. Manipal Hospitals is a part of the Manipal Education and Medical Group (MEMG), a leader in the areas of education and healthcare. With a group of 33 hospitals spread over 17 cities, they are the second-largest hospital chain in India. To manage such a large network of hospitals, they have different entities that ensure proper functioning, smooth operations and overall patient satisfaction.

In its latest report, CBRE, the real estate consultancy firm, has indicated a robust 46% Y-o-Y growth in real estate equity investments, totalling USD 8.9 billion in January to September, 2024, the highest-ever recorded since CY 2018, surpassing the USD 7.4 billion total equity investments for CY 2023. On a quarterly basis, equity investments in real estate stood at USD 2.6 bn in the July to September, 2024 period.

The report stated that domestic investors (predominantly developers) took the lead with 79% share in equity capital inflows in Jul-Sep. Singapore-based investors accounted for nearly 73% of the total foreign capital inflows, followed by the United States (22%). Developer activity picked pace in July-Sept quarter, accounting for a share of nearly 47% in total equity investments, followed by institutional & collective vehicle investors (36%).

Mumbai led the equity investment activity in Jul-Sep, along with Bengaluru and Chennai. Together, these three cities accounted for over 66% of total investments during this period. Investors are expected to continue directing equity inflows towards metros and tier-I cities. During Jul-Sep, land or development sites dominated investments with a share of 45%, followed by the office sector with a 24% share. The retail sector experienced a resurgence in capital inflows, capturing a 22% share in the same quarter.

About 56% of the total capital inflows in site/land acquisitions were deployed for residential developments, while the remaining was committed towards the development of retail, data centres, warehousing projects, hospitals, etc.