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HDIL to garner Rs 750 cr from Mumbai land deals

Firm is selling 5 mn sq ft each in Palghar and Vasai-Virar areas, is expected to get Rs 350-400 cr for each

Raghavendra Kamath  |  Mumbai 

Mumbai-based property developer HDIL is in the final leg of talks to sell two land parcels outside Mumbai that could garner around Rs 750 crore, said a source in the know. HDIL is selling five million sq ft each in the Palghar and Vasai-Virar areas and is expected to generate Rs 350-400 crore for each, he said. "Both plan to use it for housing projects," he said. According to a television report, the company is in talks with Shapoorji Pallonji for the Virar parcel.

Negotiations for Palghar are on with Veena Developers. HDIL executives did not respond to calls on the subject. The ...

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First Published: Tue, June 07 2016. 00:07 IST
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