NBR Developers
Citiescities-arrow
  • more-arrow-down
    • Please wait while loading other cities loading...

Lodha Developers pays Rs 2725 cr to DLF to acquire 17-acre land in Mumbai

  • No. 1 Property Portal in India
  • Over 25 Lakhs Apartments and More
  • Post Free Residential Properties in India
  • Find Property in Bangalore
  • Buy/Sell/Rent Apartments in India
  • Search Latest Residential Property in India
  • Get Free Alerts on Property Requirements
  • Find Agents/Buyers for your Property
mobile-ad
Lodha Developers today said it has completed the acquisition of 17-acre prime land in Mumbai from realty major DLF for Rs 2,725 crore -- the largest realty deal so far this year.
In August, DLF had announced sale of this land parcel to Lodha Developers for about Rs 2,700 crore, almost four times higher than the price it had paid in 2005.
India's largest real esate company DLF had bought the land from National Textile Corporation for Rs 703 crore and it decided to sell this piece of land as part of the strategy to exit from non-core business.
Lodha had paid Rs 500 crore as advance to DLF in August.
In a statement, Lodha said that the company "has completed its planned acquisition of the prime 17-acre Mumbai Textile mill property at Worli from DLF Ltd".
Lodha had entered into a binding agreement with DLF to acquire DLF┬┐s arm Jawala Real Estate, which owned this land.
"This transaction, which was expected to complete by the end of October, has been concluded as per the envisaged timeframe.
"The acquisition is for a consideration of Rs 1,225 crore, while additional Rs 1,500 crore approx has been paid to DLF against their loans utilised for project expenses," the statement said. "Our strong internal cashflows have enabled us to make the entire payment, without taking any high cost funding. We thank all those who have trusted us and supported us in this transaction," Lodha Deputy Managing Director Abhinandan Lodha said.
The construction of the project, with five million square feet of saleable area, is undergoing and the company expects to open bookings in the next 2-3 months.
During last fiscal, Lodha achieved over Rs 5,000 crore in sales, delivered 3 million sq ft of area and spent over Rs 1,600 crore for construction.
Source: Financial Express

Property Listings

Apartments, Flats and Property for Sale in Mumbai

Jun 09, 2017
Sell residential flat :- 2 Bhk sell in new Panvel Area/965 Sqft Built up G+7 Bldg , 4floor, fully furnished room Parking, open space available..
Jun 03, 2017
3.5 big 1st floor 2 parking servant room with attached bathroom Poona..
Jun 02, 2017
Location :- Mauli Desire II opp. Utkarsha vidya mandir daftary road malad east * Bedroom :- 1BHK Apartments * Carpet area : - ,354 sq ft. *..
Jun 02, 2017
Location :- Hawahira Mahal, Mangal Baug, Near Western Express Highway, Pushpa Park, Malad East. * Bedroom :- 1BHK & 2BHK Flats * Carpet..
Jun 02, 2017
Property Detail of MAULI OMKAR - II............................." Location :- Triveni Nagar, Near Mauli Sapphire Bldg, Mallika Hotel,..
Jun 02, 2017
Location :- Ambewadi, Pushpa Park, Beside Western Express Highway, Malad East. * Bedroom :- 1BHK & 2BHK Apartments * Carpet area : - 359..
May 27, 2017
Project Details About the Project Live a plush city life in our sustainable, integrated township at the heart of Mumbai. Spread across 5 acres,..
May 15, 2017
2 x 1 BHK Jodi flats with hall wall sharing - call for more..
May 07, 2017
JK PROPERTY SAI SIDDHANT PALACE 1 BHK/ 2 BHK- ARE AVAILABLE READY POSESSION FLATS {15 MIN} WALKABLE DISTANCE FROM STATION . PER SQ.FT..
spacer

Apartments, Flats and Property for Rent in Mumbai

May 09, 2017
1BHK OF 225 in 24 floors tower, 3 lifts, open parking, 24/7 CCTV and security, only 5 min walking distance from cotton green station and 8 min..
Apr 17, 2017
Very good 2.5 bhk on rent on main Band Stand. full sea..
Mar 27, 2017
FULLY FURNISHED 5BHK FLAT AVAILABLE FOR RENT DIRECTLY FROM..
Jan 04, 2017
2 BHK FURNISHED APARTMENT AVAILABLE AT MALAD EAST, GOREGAON FILMCITY ROAD,MUMBAI. Rent 35,000 / - Security Deposit Rs.1,25.000/-. Interested..
Dec 03, 2016
PG accommd for 4 girls sharing at vakola pipeline santacruz east Mumbai India Rent 7000 call landlady 9768546430..
Sep 02, 2016
2 BHK SPACIOUS FLAT FOR RENT AT KHARGHAR – NAVI MUMBAI. # Location : Kharghar. # Sector : 18, (near to central park, golf course and ..
Aug 12, 2016
# Location : Kharghar , sector - 3 # Sector : 3 # Area : 635 sq ft # Rent : 10000 # Deposit : 40,000 # Parking : open # Balcony : balcony #..
spacer
spacer
spacer
spacer
spacer