Reliance buys into Mumbai real estate
Mumbai, September 22, 2006: The Reliance group led by Mukesh Ambani is reported to have purchased two apartment complexes in Mahalaxmi, Mumbai for close to Rs. 200 crores. While the deal size was not disclosed, at a prevailing rate of Rs. 10,000+ per sq.ft. the estimated value of the property is in the Rs.200 crores range.
The site is located on the Hindoostan Spinning & Weaving Mills property near Mahalaxmi railway station. Reliance has purchased the apartment complex from ICICI Bank.
By INRnews Correspondent
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