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Lodha Group finalize deal in Mumbai with NTC

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The rising of the realty at the major locations can be now indicated with major dealing undergoing at various levels with leading players of the industry. One of the noted name in Indian realty Lodha Developers has recently sought there interest for the Finlay mill of National Textile Corporation. On a short note with www.propertykhazana.com Abhishek Lodha – Director of Lodha Group states that “we have made an offer to the NTC for the property of Finlay Mill which has land mass of nearly 10 acres at the location of Central Mumbai”.
Source reported at www.propertykhajana.com reveals that the dealing will be through a fund rise of around Rs 3200 making it with facilitate of Initial Public Offer by the company. Earlier to this the Lodha group has made the bidding for the Finlay mill with Rs 658 crore but the reserve price of the asset was set on Rs 710 crore and hence the deal did not worked out due to price lower than the reserved rate after the review by the team. Later on the Lodha group has changed their earlier rate for the Finlay property and it was contested by another realty giant India bulls that rose up Rs 520 crore for the same property.
As per the source available with www.propertykhazana.com the said disbursement will be done through three segments between the companies’s with in next 10 days where first part will be paid with 25 percent of the bid amount. Second part of payment will be done for half the amount with in next 45 days and the remaining will be completed after one month from the first day of the deal. For more and latest Indian real estate news browse www.propertykhazana.com.
Source: NBTVLIVE

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