Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Mukand Ltd, part of the Bajaj Group, has signed a term sheet to sell nearly nine acres of land in Kalwa, Thane, to AGP DC Infra Private Ltd for approximately INR 506 crore. The transaction marks another significant land monetisation deal in the Mumbai Metropolitan Region, where industrial land parcels continue to attract strong developer interest. The proposed sale is expected to unlock value from Mukand's non-core assets while providing AGP DC Infra with a strategically located development opportunity.
Mukand Ltd, a Bajaj Group company engaged in speciality steel and heavy machinery manufacturing, has entered into a term sheet with AGP DC Infra Private Ltd for the proposed sale of nearly nine acres of land in Kalwa, Thane, for a composite consideration of around INR 506 crore. The transaction represents one of the latest industrial land monetisation deals in the Mumbai Metropolitan Region (MMR), where redevelopment and mixed-use projects continue to drive demand for strategically located parcels.
According to the company, the agreement covers approximately nine acres of land situated in Kalwa, a locality in Thane that has witnessed growing infrastructure investment and residential expansion in recent years. The parties have signed a term sheet outlining the broad commercial terms of the proposed transaction, with the completion of the sale subject to the execution of definitive agreements and the fulfilment of customary conditions and regulatory requirements.
Mukand has historically operated manufacturing facilities in the Thane region and has been pursuing measures to optimise its asset portfolio. The proposed land sale is expected to unlock value from non-core real estate holdings while allowing the company to strengthen its financial position and focus on its core manufacturing businesses, including speciality steel and industrial machinery.
For AGP DC Infra, the acquisition offers access to a sizeable land parcel in the MMR, where limited availability of large contiguous plots has increased their strategic importance. Kalwa's connectivity through the suburban railway network, the Eastern Express Highway and upcoming transport infrastructure has enhanced its attractiveness for future urban development, making it a preferred destination for residential and mixed-use projects.
The proposed transaction also reflects a broader trend of industrial companies monetising surplus land assets across the Mumbai region. As manufacturing activities gradually shift to larger industrial corridors outside city limits, legacy land parcels within urban centres have become valuable real estate assets, attracting developers seeking opportunities in established locations with supporting infrastructure.
The MMR continues to witness sustained demand for redevelopment sites and greenfield land acquisitions despite elevated land prices. Developers have increasingly targeted well-connected areas in Thane and neighbouring suburbs to cater to rising residential demand and commercial expansion.
Once completed, the Mukand-AGP DC Infra transaction is expected to add another significant land deal to the region's real estate market while enabling Mukand to realise value from its land bank. The company has stated that further definitive agreements will be executed before the transaction reaches financial closure.
Advertisement
Facebook
Whatsapp
