Real estate majors DB Realty and Godrej Properties will reportedly be joining hands to form a joint venture for a Mumbai-based project. The project is said to be in the Bandra East area of Mumbai and DB Realty will be holding a majority stake while Godrej will have a 45 percent stake in the entity, for which it will pay Rs 300 crore.
The total saleable area of the project is 12 lakh square feet and Godrej will re-develop the project and sell it for Rs 33,000 per square feet.
DB Realty is a real estate development company that focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment, in and around Mumbai.
