L&T Realty and Valor Estate have signed a binding agreement to jointly develop a premium residential complex in Bandra West, Mumbai. With an estimated cost of INR 8,500 Crore, this upcoming project will sprawl an anticipated 7.5 Acres of land parcel.
Spanning nearly 1.6 Million-SqFt, the project is expected to be completed within 5-6 years after commencement. Moreover, L&T Realty plans to provide Valor Estate with a developed area of around 2.75 Lakh-SqFt within this project. Valor intends to retain this space as a luxury hotel with around 200 keys. The company is in advanced discussions with an international hotel brand for a 20-year operating agreement for this luxury hotel. Notably, this hotel will be the second luxury establishment in Bandra West, following the Taj Lands End.
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Additionally, both entities have committed to another binding agreement to jointly develop an INR 20,000 Crore project. It will be developed on an anticipated 10 Acres land parcel in Mumbai’s Bandra-Kurla Complex (BKC). This site is strategically located next to the upcoming Bombay High Court complex.
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