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Indiabulls Infraestate enters deal for joint development of commercial property

Capital Market 

With Oricon Enterprises

Real Estate announced that Infraestate ('IIL'), a wholly owned subsidiary of the Company, has on 10 April 2018 executed a non binding Term Sheet with ('OEL') for execution of definitive agreements for joint development of a commercial building at OEL''s land parcel admeasuring approx. 3512 sq. mtrs. plot situated at Dr. E. Moses Road, Worli, - 400018. Upon execution of the definitive agreements, IIL will get exclusive ownership rights of approx. 2.55 lac sq ft. leasable area.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 11 2018. 10:13 IST