Kanakia group to buy in­dia tube Mills land

Realty Plus - - News -

Luxury res­i­den­tial de­vel­oper Kanakia group is close to buy­ing a seven-acre plot in Mum­bai’s Vikhroli sub­urb from In­dia Tube Mills and Metal (ITM) In­dus­tries Ltd for Rs363 crore. The Mum­baibased builder has en­tered into a mem­o­ran­dum of un­der­stand­ing (MOU) with ITM, an in­dus­trial equip­ment maker, to buy the plot hous­ing the lat­ter’s of­fice and fac­tory, the peo­ple men­tioned above said on con­di­tion of anonymity. With a devel­op­ment po­ten­tial of around 10-15 lakh square feet, the Kanakia group is look­ing to uti­lize the land ei­ther for mixed used devel­op­ment or for build­ing res­i­den­tial projects.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.