Swan Mills to start real estate projects in Mumbai

September 26, 2007	(Be the first to rate this story!)  Loading ...
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Mumbai based Swan Mills Ltd is planning to come up with commercial and residential real estate projects in the city with a total saleable area of 1.85 million sq ft.

Among the projects, the most notable ones would be a residential project at Sewari in Central Mumbai and a commercial project in Kurla. Both the projects will have different saleable area; 950,000 sq ft for the Sewari project and 900,000 sq ft for the Kurla project.

These projects are scheduled to be completed by March 2009. The company has joined hands with Peninsula Land Ltd for the management of the real estate projects in Mumbai.

The role and responsibilities of Peninsula India Ltd. will be limited to management and marketing of the projects. And the cost of the two projects will be in books of Swan Mills Ltd.

Peninsula will be given 22% of the total revenue to come from Mumbai projects. 70% of the flats in Sewari project have already been completed whereas the Kurla project is yet to start, informs a senior company official.

News Published Under:   Real Estate Developers |

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