Satra Properties to acquire 0.94 acre at Marine Drive, Cochin

Satra Properties India Ltd has announced that the Company has finalized deal for acquisition of Land property having area of 94 Cents (i.e. 0.94 Acre) at Marine Drive, Emakulam, Cochin, Kerala for a approximate consideration of Rs 6.50 Crores. Out of the said land property, Conveyance of 28.762 cents (i.e. 0.28 Acre) is already been entered and Conveyance for the balance property shall be entered within a period of 2-3 months.

Further the Company is proposing a 5 Star hotel project under the name & style of "SATRA PALACE" having developable area of about 175000 Sq ft. The Total Project Cost is estimated at around Rs 175 Crores and is expected to be completed in about 3 to 4 years time.

Source : Equity Bulls

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