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Mohan Exports, the parent company of the Mohan Group, has purchased 27,000 square feet of prime office space in the DLF Horizon Centre in Gurgaon from Hero Cycles for Rs 80.66 crore. DLF, a prominent company that leases office space, had been selling office floors to prominent families and businesses between 2014 and 2019, but has not made any further sales since then. In 2021, DLF bought back Hines' 51.8% stake in one tower for Rs 780 crore, and currently owns 60% of the entire Horizon Centre along with its family members.
DLF has now completed its first private selling transaction following the initial sale of office space to well-known citizens of the country and the subsequent decision to stop such sales and concentrate on developing a rental portfolio. Mohan Exports paid Rs 5.64 crore in stamp duty according to a copy of the selling deed. The Mohan Group works on projects related to international trade, industrial and infrastructure development, and Special Economic Zones.
Kshitij Jain, of Rizin Advisory and Foreo Advisory confirmed the acquisition to the press. He also serves as a multifamily officer consultant for clients in India.
DLF is one of the largest real estate companies in India with a diversified portfolio that includes residential, commercial, and retail properties. Founded in 1946, the company has played a significant role in shaping the real estate landscape in India. DLF has developed some of the most iconic properties in the country, such as DLF CyberCity in Gurugram, which is a premier business and technology hub.
The company has a strong presence in major cities across India, including Delhi, Mumbai, Bengaluru, and Chennai, and has recently expanded its operations to international markets like London and New York. DLF is committed to sustainable development and has implemented various initiatives to reduce its carbon footprint and promote green living.
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