L&T Realty has signed an agreement with Nirmal Lifestyle Developers to develop 3mn sqft project in Mulund.
The project is expected to generate a turnover of approximately Rs. 5500 crore over the next 7 to 8 years which has a saleable potential of approximately 32 lac sq. ft.
The funding will be done by the L&T Finance Ltd for an approximately of Rs. 570 crore.With a saleable area of 3mn sq ft, the project launch date will be around January 2018..
Dharmesh Jain, Chairman and Managing Director, NIRMAL stated, “We are happy to join hands with L&T. L&T is one of the finest companies in the country and our association will bring added advantage to the region. In line with our long term strategy of bringing the best in the he county and the world, NIRMAL will line up similar partnerships with like-minded companies, to elevate Mulund as one of the finest residential & commercial destinations in the country.”
Nirmal Lifestyle has built more than 50 lakh square feet in residential and commercial spaces and the group is developing over 10 million square feet in coming years.Nirmal Lifestyle is One of the leading real estate companies in Mumbai, Nirmal Lifestyle, is a 30-year-old Company and has been an integral part of India’s real estate landscape. The group has developed numerous landmark projects within Mumbai.
L&T Realty has an impressive presence across Western India, Southern India and Chandigarh with many residential, commercial and retail projects. The company is committed to creating landmarks of excellence. This is reflected in its business parks built to support uninterrupted work 24×7, the under-construction Transit Oriented Development (India’s largest), in Navi Mumbai – Seawoods Grand Central, and its much-coveted residential buildings and complexes.
L&T Realty has made an extremely successful foray into the real-estate industry following the philosophies, ethics and work approach that have been behind its sustained growth. It has redefined the real-estate Industry in India with its transparency, customer-focused approach and continuous quest for world-class quality.