Yash Birla Group signs joint venture with Mumbai organization
The Yash Birla Group has signed a joint venture with Mumbai based Nahar group to redevelop its property of less than an acre in South Mumbai.
Ms. Manju Yagnik, vice-chairperson, Nahar Group, says that the land is located in the south Mumbai’s Tardeo and posses the total area of 4,300 square metres (46,268 sq ft). The value of this land is 34 Crore and Nahar group paid 17 Crore as its share.
She also says that they will jointly handle the responsibility of construction and re-settling the 159 tenants.
The Yash Birla Group was in news recently when the Mumbai Police organized raids on the offices of Birla group for not paying 214 Crore to the investors in the Birla Power Solutions. The group president Mr. Ananth Vardhan Pathak was also arrested by the Mumbai Police for the charges of taking drugs.
Source: The Business Standard
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