Last week a plot measuring 7 acres located in Andheri (east) was sold out for Rs 800 crores thereby which made the land transaction deal the largest outside Bandra. The said plot which is located at Popular Car Bazar on Andheri- Kurla Road and measures 30,000 sq m or approximately 3,23,000 sq ft is owned by HDIL a Mumbai real estate company. The plot was sold by HDIL last month to the Kanakia Group. The Thakur family was once the owners of the land. Two years ago the family sold the land which was being used as a garage to HDIL at a price of over Rs 400 crores. At present slums cover almost 20% of the plot.
The new owners are planning to develop about seven lakh sq ft of the plot. According to reliable sources Kanakia Group evinced interest in the plot because they are already developing a large commercial project at Popular Car Bazar and this plot will help to further their interests in the area.
The Mariott Courtyard hotel which is located in the same area is owned by the Kanakias. The plot bought by the Kanakia group is near the vicinity of the metro line which is coming up. The company is planning to develop a new commercial project on the new plot where the commercial rates vary from Rs 15000 to Rs 20000 per sq ft.
The new owners are planning to develop about seven lakh sq ft of the plot. According to reliable sources Kanakia Group evinced interest in the plot because they are already developing a large commercial project at Popular Car Bazar and this plot will help to further their interests in the area.
The Mariott Courtyard hotel which is located in the same area is owned by the Kanakias. The plot bought by the Kanakia group is near the vicinity of the metro line which is coming up. The company is planning to develop a new commercial project on the new plot where the commercial rates vary from Rs 15000 to Rs 20000 per sq ft.
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