Lodha Developers has bagged a 25,000 sq mtrs plot in Wadala for Rs 4,053
crore from the MMRDA for the right to construct a multi-storied apartment
complex.
In an auction conducted by MMRDA, Lodha quoted Rs 81,818 per sq mtrs for the
plot at the Wadala Truck Terminal in central Mumbai. As per sources, the company
will pay 10 per cent to MMRDA now from its internal accruals while the balance
will be paid in annual instalments till December 2015.
The plot was earlier earmarked for the construction of a 102-storied
commercial complex 'iconic tower'. The Authority was forced to abandon its plan
due to poor response from developers.
Also See:
MMRDA
modifies tender conditions for Iconic tower (24-May-10)
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