DLF to develop Mumbai plot along with Lodha Group in Mumbai
DLF, India’s biggest real estate firm, which is looking to divest its non-core assets to trim debt, has reportedly reached an understanding with the Lodha Group to jointly develop its 17-acre Mumbai Textile mill plot.
DLF had bought the land from the National Textiles Corporation for Rs 702 crore in 2005. It has since considered the feasibility of building a mall, office buildings or a residential complex on the plot. Many developers including Sheth Developers, The Avinash Bhosale Group, Oberoi Realty, Piramal Realty and Wadhwa Developers have shown interest in the property.
But as per recent speculations DLF has chosen to work with the cash-rich Lodha Group which is currently building the world’s tallest, 117-storey residential tower in Mumbai.
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Source: Times of India
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