Sobha ltd has signed MOU for Joint Venture in Badarpur Delhi with Hume Pipe

Sobha Ltd and Hume Pipe Company Partner for Delhi Housing Project. Sobha Ltd., a renowned pan-India developer, has joined forces with Hume Pipe Company to develop a residential group housing project. The agreement involves utilizing Hume Pipe Company’s industrial land in Badarpur, Delhi, which spans approximately 296,062 sq. ft. Sobha ltd has signed MOU for Joint Venture in Badarpur Delhi with Hume Pipe

This is a Memorandum of Understanding (MoU) signed on May 14, 2015. Following the land-use conversion from industrial to residential, a formal development agreement will be established.

The revenue generated from the project will be shared, with 48.50% going to Hume Pipe Company and 51.50% to Sobha Ltd. Additionally, Sobha Ltd. has been granted a limited Power of Attorney to acquire necessary permits and approvals for the project’s development.