MIG (Bandra) Realtors & Builders, a subsidiary of DB Realty has decided to enter into a joint venture (JV) agreement with Vishwaroop Estates and Developers (Radius Group, a Sanjay Chhabria Venture) for the development of MIG CHSL Group I, Ghandhinagar, Bandra (E), admeasuring approximately 20,149 square meters, whereunder, both parties would make investments to meet certain agreed cost lines and share the free sale area in an agreed ratio. The project will be co-branded.
The total BUA of the project is expected to be over 2.4 million square feet (sq ft). The project land is completely vacant and piling work has commenced. All approvals required at this stage have been received and a formal launch of the project is scheduled in mid-November around Diwali. The revenue from the project on completion is expected to be in the region of Rs 3500 crore.
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.
