Piramal Sunteck buys two Cidco plots

Real estate
Piramal Sunteck Realty purchased two plots in Navi Mumbai for more than thirty-one crore rupees. In all five plots, measuring around eleven thousand square meter were put on the block by the City and Industrial Development Corporation (Cidco) for a total cost of eighty crore rupees.
Piramal Sunteck had put in a bid for all five plots. The bids for the other three plots were bagged by Millennium Enterprise, Atul Aggarwal & Sons and Prajapati Constructions. It is learnt that the Piramal-Sunteck group plans to develop its two plots for residential and commercial purposes. Residential development will account for 75%.
Cidco had invited bids for these plots around one month back. These plots are located in Airoli with a size ranging from fifteen hundred square meters to thirty-five hundred square meters. The successful completion of these bids comes not too long after the bid for Finlay Mill was scrapped. NTC is learnt to be looking for higher valuations as compared to the bid for Rs 710 crore by Lodha Developers.

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