Manipal Health Enterprises Limited, a prominent hospital chain backed by Temasek and TPG, has successfully acquired the Khubchandani Hospital property located in Andheri, Mumbai, for ₹495 crore. This transaction marks one of the largest healthcare real estate deals in India this year, reflecting a significant investment in the country's rapidly evolving healthcare sector. The property acquisition was registered on May 6, 2026, with a stamp duty of ₹29 crore. The deal encompasses a land parcel measuring 752.77 square metres, along with a hospital structure that boasts a built-up area of 20,663.80 square metres, underscoring the scale and importance of this investment.
The sellers involved in this transaction include Khubchandani Hospitals Private Limited, Khubchandani Properties and Investment Private Limited, and Perfect Realty Private Limited. The acquisition is noteworthy not only for its size but also because it represents the culmination of a larger acquisition process initiated in 2024. In that earlier phase, Manipal Health had executed a conveyance deed worth ₹413 crore, which covered the primary hospital land and a significant portion of the building. However, certain portions of the property and associated development rights were still pending, which necessitated this subsequent transaction.
The newly finalized deed transfers additional assets, including a plot of land that had not been included in the previous deal, as well as several floors of the hospital structure. Specifically, the transaction includes Block B of the hospital, which encompasses the service floor up to the 9th floor, along with all remaining Floor Space Index (FSI), Transferable Development Rights (TDR), and future development potential related to the hospital land. The majority of the transaction value is attributed to the hospital structure itself, with the service floor and floors 4 through 8 valued at ₹453 crore, while the 9th floor contributes an additional ₹34 crore.
The total built-up area transferred under this deed exceeds 20,663 square metres, translating to over 2.2 lakh square feet of hospital space. This complex, situated on a nearly 2.61-acre site, includes various facilities such as a basement with 180 enclosed parking spaces and 204 mechanical stack parking spaces, in addition to multiple floors designed for hospital operations. Such acquisitions are indicative of the growing trend in healthcare real estate, as companies like Manipal Health continue to expand their footprint and enhance their capabilities in response to increasing demand for healthcare services in India. The continued investment in healthcare infrastructure is expected to play a vital role in meeting the needs of the population while also offering substantial opportunities for growth in the real estate sector.