GVK Power Update by Epic Eesearch

GVK Power & Infrastructure’s subsidiary, Mumbai International Airport (MIAL) has kicked started monetization of commercial real estate by finalizing lease of one of the parcel, to Oasis Realty. This parcel will have a potential for commercial development of 1.166 million square feet. This is part of the process of overall commercial development of 22 million square feet in phases over a period of 10 years. This transaction has been finalized at the rate of approximately Rs 106 crore per acre which translates to total of Rs 580 crore for this parcel at the rate of approximately Rs 5,000 per square foot of build-up area.



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Posted in: Indian Market Tips