Bombay Realty aims to develop 700 acres
Bombay Realty, a part of Bombay Dyeing and Manufacturing Co. Ltd, has planned to contribute more than half of its revenue towards the development of properties in Mumbai and retiring the group’s high-cost debt.
The group has nearly 10,000 acres of land, including 700 acres in Mumbai alone. The lands which are there in Mumbai are of high value. The group is in the process of monetizing this land.
They have planned to develop a part of it, and will also sell some of it. The projects may be launched in the next fiscal year.
Bombay Realty is developing projects in Worli and Dadar. Both projects will have a mix of residential, high-street retail and a hotel.
The residential project in Dadar is aiming the high class society of Mumbai, while the Worli project is going to capture the super class seven-star experience market.
They also have planned to launch a 100-acre mixed-use project in Thane.
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Source: Live mint
