Bharat Mills sold at Rs. 1505 cr.

Friday evening was a landmark in Indian Real Estate market history since the biggest real estate deal took place. National Textile Corporation (NTC) sold Bharat Mills spread over eight acres at Worli for an extreme price of Rs. 1505cr, i.e. Rs. 188 cr. per acre.
The top bidder was Indiabulls followed by Lodha who lost the bid by just Rs.2 cr. The next bidder was Peninsula. Other bidders were Tata, Videocon and Oberoi groups.
This land was earlier opted by state government to develop affordable housing on it. But, NTC didn’t sign the deal. State government offered Rs. 750 cr. for this land.
Also, few days back, Indiabulls won the Podar Mills deal too which was a deal of Rs. 474 cr. for 2.39 acres.

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