L&T Realty, the real estate arm of Larsen & Toubro, has recently signed an agreement to jointly develop a 12.2-acre land parcel in Thane’s Panchpakhadi. The project involves the rehabilitation of a large slum layout and has a total development potential of over 3.12 Mn-SqFt.
L&T Realty is partnering with Jagdale Infrastructure for this project. The current developer, Jagdale Infrastructure, received a letter of intent from the Slum Rehabilitation Authority in 2022. The project, which involves over 20 slum pockets, is expected to be completed within five years. L&T Realty’s share in the project’s profit is estimated to be nearly INR 698 Crore, whereas Jagdale Infrastructure will receive around INR 303 Crore.
Also Read: Key Upcoming Projects by Rajapushpa Properties Pvt Ltd (RPPL)
Moreover, The land parcel was originally owned by the government of Maharashtra and was declared a slum rehabilitation area in 2016. L&T Realty will handle the design, development, construction, marketing, branding, and sale of the free-sale component of the project.
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