In a major strategic move, a leading private-sector bank has decided to divest several key commercial properties inherited during its 2023 merger with its former parent organisation, according to persons familiar with the development. Monetisation of these assets, which include residential apartments, is expected to fetch around ?3,000 crore.

The properties identified for sale include a prominent commercial building in South Mumbai’s Churchgate area and residential units previously allotted to senior officials of the merged entity. Commercial assets spread across South Mumbai, Kalina, Chandivali, and cities such as Kolkata, Mysore, and Bengaluru are valued at approximately ?2,400 crore, while residential apartments are estimated at around ?800 crore.

The South Mumbai commercial building was acquired by the merged entity’s predecessor in 2014 for ?300 crore. Prior to this purchase, the organisation had been a tenant in the 153,000 sq ft property. However, the bank has decided to exclude another prominent building, formerly serving as the headquarters of the merged entity, from this monetisation plan.

This move also reflects the bank’s proactive approach in leveraging the current surge in demand within the commercial real estate market, supported by economic recovery and growing interest from both domestic and international investors.

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