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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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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