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