L&T Realty to develop residential projects worth ₹8,000 crore in South Mumbai, Andheri and Thane

• The projects undertaken by L&T Realty in Mumbai have a development potential of 4.4 million square feet.
• This is also a part of the company's larger plan to strengthen its footprint in major metros.
• The South Mumbai project would be developed over a land parcel of five acres that offers a clear harbour view.

The real estate development arm of Larsen & Toubro, L&T Realty, on Monday announced that it will be jointly developing projects worth ₹8,000 crore in various parts of Mumbai including South Mumbai, western suburbs and Thane.

The projects — which have a development potential of 4.4 million square feet — would aid L&T Realty’s geographical expansion in Mumbai. This is also a part of the company's larger plan to strengthen its footprint in major metros by adding around five million square feet per year over the next five years.

“We are committed to expanding our reach and continue looking into new markets. With signature elements from L&T Realty, these projects will have iconic features,” said Shrikant Joshi, MD and CEO of L&T Realty.

According to the company, the South Mumbai project would be developed over a land parcel of five acres that offers clear harbour views, along with good connectivity to all parts of Mumbai. This residential complex will have 50 storey twin towers with luxury amenities and retail.

Meanwhile, the company would develop a 20 tower residential complex in Andheri that falls under western suburbs. This would be L&T Realty’s first project in the region. The Thane project will be developed on a six-acre land parcel, surrounded by social infrastructure and “ample amenities in-house”.

L&T Realty has an extensive portfolio spanning 70 million square feet — spanning Mumbai, Navi Mumbai, Bengaluru, Chennai, National Capital Region (NCR) and Hyderabad — across residential, commercial and retail developments.

SEE ALSO
Nifty 50 remains the top performer in Asia despite tussle between bulls and bears
Meet the new CEO of NSE Ashish Chauhan, creator of Nifty and father of derivatives
Hindalco, Indian Oil and Israel’s Phinergy join hands to make aluminum-air batteries