On 21 April 2008, Larsen & Toubro signed a development agreement with City & Industrial Development Corporation for the development of an integrated commercial complex at Seawoods railway station at Navi Mumbai in Thane district. The project, which is estimated to spread over 40 acres of land will entail an investment of Rs.3,500 crore. L&T will also develop a state-of-art Seawoods-Darave Railway station over the next three years.

CIDCO had floated the proposal in mid 2007 and L&T emerged as one of the three qualified developers and bagged this project by bidding Rs.1,809 crore. The project has the potential to develop 4 to 5 million sq.ft. of usable space. The development will consist of a modern railway station, large format retail and entertainment space, multiplexes, office complex, and premium category hotel and service apartments.

L&T is in the process of short listing international architects to develop the concept and master plan for the project. Cushman Wakefield and Jones Lang Lasalle Meghraj have been engaged for real estate advisory services for the project.

The proposed development project is planned to be completed over the next five years.

Related Links:
Project profile