Standard Industries sells Navi Mumbai Property to K Raheja Corp for INR 355 Cr

Real Estate Builder, K Raheja Corp has purchased land property measuring 62.25 aacre from Standard Industries. This land is located in Ghansoli at Navi Mumbai. The total value of the transaction is estimated to be approx. INR 355 Cr.  Standard Industries is a part of the Mafatlal Group.

The deal is to transfer all leasehold rights for the said property to a subsidiary company of K Raheja Corp, Feat Properties. It has a potential development area of around eight million square feet. The location in itself quite prominent as it is located at the Trans Thane Creek Industrial Area.

Navi Mumbai of late has seen a lot of real estate deals on the backdrop of renewed customer interest. Earlier the company in 2008 has sold an adjoining plot measuring thirty acres to a company based out of Singapore.