L&T Realty, has entered into a binding agreement to jointly develop projects in South Mumbai, western suburbs and Thane worth ₹8,000 crore, with development potential of 4.4 million square ft.
This is a part of company’s larger plan to strengthen its footprint in major metros by adding around 5 million sq ft per year over the next five years.
Shrikant Joshi, MD & CEO, L&T Realty said, “We are committed to expanding our reach and continue looking into new markets. With signature elements from L&T Realty, these projects will have iconic features that are designed keeping in mind global norms of excellence while also being a testament for their trust on us with faster execution capabilities.”
The South Mumbai project will be developed on a five-acre parcel that offers a clear view of the harbour along with good connectivity to all parts of Mumbai. This residential complex will have 50-storey twin towers with luxury amenities and retail.
The project in the western suburb is set in Andheri, a prime location. This would be L&T Realty’s first in that area where the company will develop a modern gated residential complex comprising 20 towers and a shopping complex.
The Thane project will be developed on six-acres in the heart of the city. Surrounded by good social infrastructure and with ample amenities in-house, these high-rise residential towers will stand tall in the skyline of Thane. L&T Realty has an extensive portfolio spanning 70 million square ft across residential, commercial and retail developments and is currently present in Mumbai, Navi Mumbai, Bengaluru, Chennai, NCR and Hyderabad.
July 18, 2022