Crompton Greaves is all set to sell part of its land parcel at LBS Marg in the eastern suburbs of Mumbai. The deal is likely to be announced in 7-10 days. The total valuation of the 32-34-acre plot is estimated at Rs 1,400 crore. Leading builders will be in the race to buy the land parcel, including Lodha, Runwal and Oberoi Realty.
The property in LBS Marg, Kanjurmarg, has an excellent view. While there is a factory on the adjacent area now, it is expected the factory will be shifted gradually; the rest of the land will also be sold.
Crompton Greaves (CG) is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.
