India And Coronavirus: Fortunate Escape Or Emergency Ahead?
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<p><span style=”text-decoration: underline;”>A 25,000-sq-m plot in Wadala</span> has attracted a sky-piercing bid of Rs 4,053 crore to the Mumbai Metropolitan Region Development Authority (MMRDA), the supply coming just after a two-year slump in the realty industry. If the deal goes by means of, it will be the country’s highest land transaction ever. With the payment model permitted for the Wadala plot -5 years at 10 per cent compound interest is the total amount that the developer will shell out functions out to a staggering Rs 5,700 crore. The Delhi-primarily based BPTP had quoted Rs 5,006 crore for a 95-acre plot put up for sale by the Noida Authority, but the deal quickly fell via. The aggressive bid by Lodha group comes ahead of the launch of its initial public providing (IPO). The winning bidder, Lodha Crown Buildmart Pvt Ltd, has quoted a cost of Rs 81,818 per sq m of the permissible constructed-up region on the plot, which the MMRDA had earlier earmarked for an iconic tower.</p><p>
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