INDIAN REAL ESTATE PROPERTY NEWS

Parsvnath Developers bags redevelopment project for Mahim Bus Terminus, Mumbai

Mumbai, India, August  - Parsvnath Developers Ltd has announced that the Company has won another project from WEST, Mumbai to develop a plot of land at Mahim Bus Station, Mumbai for commercial and residential utilization along with remodeling of existing bus station.

The project would give the Company a developable area of 40,000 sq ft with a realizable value of approximately Rs 70 crore. This project is in addition to a project bagged from BEST, Mumbai for re-development into a modern bus terminus at Kurla along with modern passenger facilities and a commercial shopping complex in Mumbai.

The Mahim project would be on lease to the Company for a period of 60 years and would be executed within 24 to 25 months from the date of commencement of work.