Keystone Realtors Ltd receives LOA for redevelopment project from MHADA

Keystone Realtors Limited (Company) has received the Letter of Acceptance (LOA) for the redevelopment of GTB Nagar in Sion, one of Mumbai's most impactful urban transformation projects, being undertaken in collaboration with MHADA (Maharashtra Housing and Area Development Authority).

The said transaction is a redevelopment of Guru Teg Bahadur Nagar (GTB Nagar), Sion Koliwada with no transfer of title taking place and the Company being entitled for development rights. The Company will give additional carpet area in lieu of existing carpet area to the existing society members. The Company will be able to load additional Floor Space Index (FSI) on the societies' land for recovery of such costs. Such additional FSI shall be generated as per Development Controller and Promotion Regulations (DCPR) 2034 as applicable for the redevelopment project.

Shares of Keystone Realtors Limited was last trading in BSE at Rs. 642.35 as compared to the previous close of Rs. 636.65. The total number of shares traded during the day was 7542 in over 446 trades.

The stock hit an intraday high of Rs. 647.75 and intraday low of 616.55. The net turnover during the day was Rs. 4763856.00.

Source : Equity Bulls

Keywords

KeystoneRealtors INE263M01029 Residential Commercial LOA RedevelopmentProject MHADA