Garnet Construction acquires 25 acre land near Panvel

Garnet Construction Ltd on October 19, 2006, has announced that the Company has acquired 25 acres of land at Express Highway near Panvel in Navi Mumbai to develop a mega residential township with all modern facilities.

The company promoted by Kishan Kumar Kedia and Arun Kumar Kedia, has already acquired about 280 acre of land at Express Highway near Panvel in Navi Mumbai for Residential and Industrial project, which will require a total of 400 acre.

"With today’s acquisition our land bank at the Panvel project stands at 305 acre and we will be looking for more acquisition in the coming future.", said Mr Arun Kedia, Director, of the Company.

The location of the project is selected keeping in mind the who people preferred to have a house either to live after retirement or for spending leisure time with families and friends. The project will have one of its kinds Residential complexes with all modern amenities, recreational and educational facilities. It will also have commercial properties like Shopping Malls and Multiplexes.

"The acquisition of the land is likely to be completed by April 2007 and the construction of the same is expected to commence by October 2007", added Mr Kedia.

Source : Equity Bulls

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