L&T Realty and Nirmal Lifestyle has Signed 20 acre Joint Venture Deal in Mulund Mumbai

L&T Realty and Nirmal Lifestyle has Signed 20 acre Joint Venture Deal in Mulund Mumbai

L&T Realty and Nirmal Lifestyle inks JV Deal in Mulund Redevelopment Project.  L&T Realty, Larsen & Toubro’s real estate arm, has joined forces with Nirmal Lifestyle Developers to redevelop a nearly 20-acre land parcel in Mulund, Mumbai. L&T Realty and Nirmal Lifestyle has Signed 20 acre Joint Venture Deal in Mulund Mumbai.

Project Details:

• Location: Mulund (west), Mumbai
• Project Size: 3 million sq ft of saleable development potential
• Estimated Revenue: Rs 5,500 crore over 7-8 years
• Funding: L&T Finance (Rs 570 crore)
  • Partial repayment of existing debt owed by Nirmal Lifestyle Developers

Project Highlights:

• Integrated residential township with approximately 2,000 apartments
• Phased development with handover within 7-8 years
• Project launch expected in 4-6 months
• Nirmal Lifestyle is responsible for land & permissions
• L&T Realty accountable for development, execution & marketing

Significance:

This joint venture unlocks redevelopment potential for Nirmal Lifestyle’s land holdings and provides L&T Realty with a significant development opportunity in Mulund. The project is expected to generate substantial revenue over the next decade, contributing to both companies’ growth strategies.

 

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 or want to publish your news or article please email news@jvdeals.in