MUMBAI: Piramal Realty, real estate
arm of the Piramal Group, is buying a 3.2-acre land parcel in Mulund
suburb of Mumbai from Nirmal Lifestyles for Rs 153 crores. This plot is
located adjacent to Piramal Realty’s existing residential project in
Mulund.
“This strategic land acquisition will now
significantly benefit existing and potential customers with a direct
access to the development from LBS Marg – the main access road, and a
larger layout with more open spaces, additional amenities and reduced
density. We continue to explore opportunities that ultimately help us
contribute to customer delight,” said Anand Piramal, Executive Director,
Piramal Group.
Source : freepik.com
Piramal Realty has pegged its investment for the existing project Piramal Revanta at around Rs 1,800 crores.
Last month, Nirmal also entered into a
partnership with Godrej Properties, the real estate development arm of
the Godrej Group, to build a residential project on a 14-acre land
parcel in Thane. This pact was facilitated through realty developer
Nirmal’s strategic arm Nirmal Ventures. The newly launched vertical of
debt-stressed Nirmal is looking to enter into more such partnerships.
As part of this initiative, Nirmal Ventures
had undertaken a joint development with L&T Realty to build an
integrated residential development in Mulund earlier. Through these two
associations, Nirmal has raised over Rs 1,000 crore.
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501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane
– 400 604, Maharashtra, IndiaMobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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