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Golden Tobacco to put Mumbai land on the block
23 August 2010: Golden Tobacco(GT) is likely to sell its 5.5-acre land parcel near the international airport in Mumbai, which could fetch the company up to Rs 100 crore.
According to the tender document, a minimum of one lakh square feet of space can be constructed on the land. The plot, located in the Marol Industrial Area near Chhatrapati Shivaji International Airport, is being sold by GT through an online auction. The reserve price for the land parcel has been pegged at Rs 50 crore.
GT has closed all manufacturing facilities in Mumbai and shifted to Vadodara. It had reportedly sold a property in suburban Vile Parle to a private developer for Rs 591 crore early this year.
Source: Hindu Business Line