Project News Detail

Project No :194261
Project Title :Construction Of Luxury Residential Development (50 storeys) Project In Maharashtra.
Company Name : Wadhwa Group
Project Detail :Six years after signing a joint development agreement with Hubtown for a prime seafacing Prabhadevi plot, developer Wadhwa Group has exited the Rs 7,500 cr realty project

The partners cordially decided to end the agreement for the luxury residential development called 25 South, comprising three towers of about 50 storeys each on a 5.5 acre plot

The Prabhadevi plot owned by Hubtown used to be Hindoostan Mills

Wadhwa Group had raised Rs 130 crore from its own capital to start the project. As part of the deal, Wadhwa Group was to receive 13.5 percent from the total sale of apartments in the three towers and a fixed fee of Rs 30 crore for planning, developing and executing the entire project

The first of the three skyscrapers (Wing A South Tower) has reached up to the 38 floors of the sanctioned 47 floors

Hubtown will reimburse Wadhwa Group to the tune of Rs 225 crore which will be in the form of 45,897 sq ft of space in the under-construction tower. This includes 21 apartments and 55 car parks

Project Location : Mumbai - Maharashtra - India
Project Industry :House / Building
Project Estimation :Refer Document
Status :Announced