 "Indiabulls highest bidder for Voltas land in Thane")
It quoted a price of Rs 236 crore or Rs 32.68 crore per acre.
Voltas is yet to confirm the bid. Many developers participated in the bidding. Indiabulls plans to build a premium residential towers on the plot, source said.
Another Indiabulls group firm recently bought a plot in Chennai for Rs 600 crore.
According to consultants, price quoted by Indiabulls is in line with market prices. In April this year, KEC International sold 7.3 acres to Tata Housing for Rs 211.7 crore or Rs 29 crore per acre.
In the same month, the Lodha group bought an 88-acre lot in Thane for Rs 1,154 crore (Rs 13.11 crore an acre) from chemicals producer Clariant India.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app