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This is an archive article published on June 28, 2010

RIL likely to sell 2.5-acre Mumbai plot

Mukesh Ambani-run Reliance Industries RIL plans to sell 2.5-acres of land in central Mumbai to realty major,the Wadhwa Group,a source said.

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Mukesh Ambani-run Reliance Industries RIL plans to sell 2.5-acres of land in central Mumbai to realty major,the Wadhwa Group,a source said.

The land in the rapidly-developing commercial hub of Bandra-Kurla Complex BKC is expected to be sold for around Rs 1,000-crore.

When contacted,a RIL spokesperson declined to comment on the matter.

This 2.5-acre is a part of the 18.5-acre land which Reliance Industries had purchased in 2006 from Mumbai Metropolitan Regional Development Authority MMRDA in an auction for Rs 1,104-crore,the source said.

It is understood that the transaction would likely be sealed in about a month8217;s time.

 

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