Lodha Developers is buying 87 acre land of Clariant chemicals for 1154 crore to develop a new project called Lodha Codename Concept X in Kolshet Road Thane. In their BSE Clariant Chemicals said that they are selling their land of 84 acres to Ishwer Reality and Technologies because they had an agreement mutually. Ishwer Realty and Technologies Pvt Ltd is a subgroup of Mumbai established Lodha Developers Pvt Ltd. The share holders of Clariant Chemicals granted the permission to sale out this land in July last year. “The dealing is due to customary conditions and is related to relevant approvals and permissions from the govt. and different concerning bodies, as is also necessary,” the filing stated. An increase in share price of Clariant Chemicals is observed by 6.08% to Rs 700.15%.
During the last month many selling and purchasing of land has been done in Mumbai. Tata Steel sold their 25-acre plot in Borivali to Oberoi Realty for Rs 1,155 crore where as KEC International sold 7 acre of their commercial land for Rs 214 crore to Tata Housing. Lodha group are expanding their business not just in India but also out of India to expand their business. Lodha Group of Developers Pvt Ltd is India’s leading property developer with more than 8700 crore of profit returns. In Hyderabad, Mumbai and Pune, Lodha Group of Developers are developing more than 35 million sq.ft. of land in more than 20 projects.
After the incusion of Codename Concept X Lodha Group is going to change the skyline of Thane.
