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Monday, July 16, 2018

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.

Written by Agencies | Mumbai | Published: June 28, 2010 12:41:16 pm

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 month’s time.

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