(20 second reading) In what could be one of the major real estate deals in Mumbai Metropolitan Region, L&T Parel Projects Ltd has agreed to develop a plot measuring 31.25 lakh sq ft at Pachpakhadi in Thane. L&T entered into an agreement with Jagdale Infrastructure Pvt Ltd to develop the said plot. The total RERA area to be developed is 31.25 lakh sq ft while the total rehab area to be developed will be 12.7 lakh sq ft.
The developers would jointly develop the above project land having minimum developmental potential of RERA carpet area of 31.25 lakh sq ft. While the total agreement value is Rs 697.67 Crore, the stamp duty paid is Rs 34.88 Crore, according to the documents accessed by CRE Matrix, a real estate data analytics firm.