Adani Group buys 1.1-acre plot in Mumbai's Carmichael Road for Rs 170 cr

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Adani Group buys 1.1-acre plot in Mumbai's Carmichael Road for Rs 170 cr - Business Standard

Quick Summary:

The apartment is spread over a carpet area of 5381 sq ft and the per sq ft price of the property works out to be Rs 1.63 lakh, making it one of the costliest property transactions in the country.

Originally earmarked for a children’s park in the 1991 Development Plan, the plot’s designation was changed following revisions made by the Brihanmumbai Municipal Corporation (BMC).

The plot, which measures around 4,500 square metres, was inherited by Behram Nowrosji Gamadia, whose family has owned the land since the early 20th century.