Bombay Dyeing to develop prime real estate in Dadar, Mumbai
Mumbai, September 30, 2006: The Wadias of Bombay Dyeing are to develop the 35-acre Spring Mills site in Dadar Naigaum into a residential and retail complex. The site is amongst the largest mill sites available in Mumbai city that is available for redevelopment after a supreme court ruling to this effect earlier in the year.
According to market sources, one 38-floor tower has been launched to select buyers at a reported price of Rs.12,000 per sq.ft, significantly higher than prevailing prices in this area.
The site has a development potential of 1.5 million sq.ft and is likely to be developed over stages into a residential and retail/commercial site.
By INRnews Correspondent
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