Runwal Realty Secures 4-Acre Kansai Nerolac Land in Mumbai's Worli for Luxury Development
Runwal Realty has acquired a 4-acre land parcel from Kansai Nerolac Paints in Worli, Mumbai, for Rs 800 crore. The developer plans to turn this prime location into a luxury residential project worth Rs 8,000 crore, further solidifying their presence in So
Runwal RealtyKansai NerolacMumbai Real EstateLuxury Residential ProjectsProperty AcquisitionsReal Estate MumbaiOct 24, 2024
Realty developer Runwal Realty has secured a prime 4-acre land parcel from Kansai Nerolac Paints in the plush locality of Worli in Mumbai. The deal, valued at Rs 800 crore including all charges, was concluded and registered on Thursday evening. This acquisition is part of Runwal Realty's strategy to strengthen its footprint in South Mumbai and the luxury segment.
Frequently Asked Questions
What is the value of the land acquisition by Runwal Realty from Kansai Nerolac Paints?
The land acquisition by Runwal Realty from Kansai Nerolac Paints is valued at Rs 800 crore, including stamp duty and other charges.
What is the planned development on the acquired land?
Runwal Realty plans to develop a luxury residential project on the 4-acre land parcel, with a development potential of 1 million sq ft and an estimated value of Rs 8,000 crore.
Why did Runwal Realty choose to acquire land in Worli, Mumbai?
Runwal Realty chose to acquire land in Worli, Mumbai, to strengthen its footprint in South Mumbai and the luxury segment, following the success of its other premium developments in the region.
What are the market trends that make this acquisition beneficial for Runwal Realty?
The strong market trends, coupled with macro-economic factors, infrastructure push, and a favorable regulatory environment, offer a monumental growth opportunity for Runwal Realty in Mumbai's real estate market.
What other cities are seeing significant land transactions in India?
Cities like Mumbai, Pune, Chennai, Hyderabad, and Bengaluru are witnessing significant land transactions, including both outright acquisitions and joint ventures, as developers and investors secure prime land for new projects.
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