BS Reporter |
Chennai/ Bangalore
July 9, 2007
Last Updated at 00:00 IST
Bhoruka forays into Mumbai real estate
| Bhoruka Group, which specialises in power projects, has forayed into Mumbai's premium real estate market. It has proposed an apartment complex at the Mukesh Textile Mills compound spread over 10 acres in South Mumbai.
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| The real estate venture is being promoted by TCI Industries Ltd, a family concern of the owners of Bhoruka Group.
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| "The construction work on the apartment complex will commence next year. We are targeting the high-end customers since it is located in a premium area," said Bhoruka Group Chairman S N Agarwal.
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| The textile mill was shut down in 1982. "There is a severe shortage of real estate space in South Mumbai. We intend to leverage on this. Also, the demand for properties in prime location is on the rise in Mumbai," he said.
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| Apart from Mumbai, Bhoruka Group has entered the Bangalore real estate mart. It has proposed an IT park on an 34 acre plot in Whitefield.
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| The Group has launched a new company Bhoruka Park Pvt land for its real estate venture in Bangalore. |
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