L&T & DB Realty in JV plan 1.4-mn sq ft residential project
Larsen & Toubro's real estate development arm, L&T Realty, is forming an alliance with DB Realty to jointly develop over 1.4 million sq ft residential project in Mumbai's western suburb Malad, said sources, adding that the project will be developed on DB Realty's 8-acre land parcel in Dindoshi locality of Malad wherein L&T Realty and its partner will share space developed in 60:40 ratio. DB Realty, as the landlord, will be responsible for land related approvals and bear the cost to be incurred for fungible floor space index (FSI) and transferable development rights (TDR), while L&T Realty will construct, execute, brand and market the project. The entire plot is around 20 acres, but the alliance is being formed for development of part of it, they added.
📅Published on:
25 February 2020
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