Lodha Group buys Washington House in Mumbai

Another landmark heritage building on Mumbai's Altamount Road has been sold to a real estate company. A skyscraper will most likely replace it.

The road, now more famous for Mukesh Ambani's residence Antilla, has been witnessing such replacements over the last few years.

The US consulate has most likely sold Washington House, a three-storied residential building, to Lodha Group, The Times of India reported on Saturday. The deal value has been estimated at Rs 375 crore.

[caption id="attachment_346068" align="alignleft" width="380" caption="The road is now more famous for Mukesh Ambani's residence Antilla. AFP"][/caption]

The US government had put two of its properties in Mumbai on the block as it moves all its offices to the Bandra Kurla Complex. Washington House is a Grade III heritage building.

Lodha group will demolish the building and replace it with a luxury residential tower, the report said. The price quoted is in line with the market rates, it said quoting sources from the real estate sector.

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Altamount Road is among the costliest 10 addresses in the world, according to a survey by Wealth-Bulletin, an online finance service. The road once had a number of buildings from the British era. Many of them have been replaced by skyscrapers of late.