Real Estate

Real Estate Transactions

Prestige buys out partner in project in Mumbai's Byculla for Rs.185-Cr

Economic Times Print Edition  

Prestige Estate Projects, an entity of realty major Prestige Group, has acquired a 2.16 acre land parcel in Byculla in South Mumbai from Jasdan Construction for INR 185 crore. Both the entities were earlier in a pact for joint development of the project but now Prestige, which held 73% in the project, has bought out the land owner. The project offers a development potential of 0.61 million sq ft. The transaction attracted a stamp duty of INR 9.25 crore. The project is expected to be launched in Q3 and the construction work has been given to L&T.