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Bharti Realty Looking to Acquire Land in Suburban Mumbai for rs 190 Crore

Add comment   |   June 21, 2011    07:25am   |Contributed by Indian Realty News

Bharti Realty may be looking to acquire a land parcel in suburban Mumbai for around Rs 190 crore. The company is likely to purchase this land from Cabot India, erstwhile company United Carbon. It is a 27-acre parcel in Thane-Belapur road. It’s just a little bit off Thane-Belapur road, almost into Navi-Mumbai. The valuation is touted in the range of Rs 150-190 crore. The valuation is being worked out at about Rs 7 crore per acre. Now, this deal will set the benchmark in that particular area because in that particular stretch there hasn’t been too many deals in the recent past, reports CNBC-TV18.

Some brokers say that it is a fair value, while some say it is little bit aggressive for the area. The divided opinion is because there haven’t been too many deals in that area. Bharti Realty, for its part, has said that the company does not comment on market speculation. So, it remains unclear whether the Bharti will actually launch a residential project for that parcel or not. But it’s quite likely because that’s what several companies have done in that Thane-Belapur area as it actually gives a lot of volumes in terms of sales.

News Published Under:   Delhi, Gurgaon, Mumbai, Pune, Real Estate Developers, Real Estate India | No Comments »



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