In the city's largest land transaction of 2009, the Mumbai-based Wadhwa Group is believed to have recently concluded negotiations to buy the 18-acre Hindustan Composites land in Ghatkopar for Rs 570 crore.
Given the current circumstances, when the property market is just about finding its feet following a slump, the price is considered to be substantial.
The prime land is located on LBS Marg in Ghatkopar and has seen a slew of prospective buyers over the past several years. In 2008, the Suresh Raheja-led K Raheja Universal was believed to have virtually bought this land for over Rs 700 crore. However, when the property market tanked, the deal did not go through.
Times of India
No comments yet