The Shapoorji Pallonji group has sold a land parcel in Juhu measuring over 19500 square feet for ₹455 crore, to a Mumbai-based firm, according to Square Yards. 

The firm which acquired the land, Agarwal Holdings, paid a stamp duty of ₹27.30 crore on the transaction, the registration documents showed. 

Agarwal Holdings, which offers intermediation services to financial institutions, had previously acquired two land parcels in the same locality around two years ago for a combined value of ₹333 crore. 

Juhu, situated on the western suburbs of Mumbai, is an upper class residential locality. Its proximity to the sea, as well as the international airport along with a strong social infrastructure has attracted leading film personalities to make it their home. Several luxury real estate projects have come up in the area with better road connectivity. 

For the SP group, this transaction is part of its ongoing efforts to monetise assets to raise funds and reduce its debt.