Jet Airways is expected to jointly develop its 2.5-acre plot at Bandra Kurla
Complex (BKC) in Mumbai with Godrej Properties.
Jet has reportedly signed the term sheet (a document clarifying the initial
terms of a possible deal between the buyer and seller) with Godrej. A formal
agreement is yet to be signed as the two companies are still negotiating the
compensation amount and the profit to be shared. As per sources, Godrej has
offered compensation of Rs 450 crore and profit of up to 10 per cent, but Jet is
demanding Rs 520 crore and 20 per cent of the profit.