L&T Realty is looking for partners in Bengaluru, Navi Mumbai projects

Q: L&T Realty Ltd, the real estate development arm of Larsen and Toubro Ltd, is looking to bring in a development partner and investor in a couple of its projects in Bengaluru and Navi Mumbai.

Saran,

22nd December 2015

Real estate News in Mumbai

transit oriented development

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larsen & toubro

l&t realty ltd

project at seawood navi mumbai

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Replies (2)

Hi folks,
For your kind information, they don't plan to run malls and want to monetize them, nevertheless they continue to build them in their projects. In the Hebbal project, they are planning of bringing in a joint venture partner because their office portfolio is already large and they have big obligation and so they are trying to strike a balance. They are hoping to finish these transactions next year.

Gairik Deb, Bangalore

22nd December 2015

Comment

Similarly, in Seawoods, they are talking to investor partners, but they want someone who will be a eligible successor. In 2016, L&T Realty plans to start delivering homes in its project in Powai in suburban Mumbai and complete its Seawoods project.

Santosh TR,

22nd December 2015

And for the Hebbal project, L&T Realty is discussing to a few developers such as Assetz Property Group, RMZ Corp, and other large Singapore developer and investor.

The real estate sector has gone through a number of challenges in the last year and with customers becoming more clever, there seems to be a movement towards bigger, branded developers, who are also part of a larger corporate entity.

Gairik Deb, Bangalore

22nd December 2015

@Gairik,
There are many reasons why branded and big developers such as Godrej Properties have done so well when most others have struggled. I am not ignoring it that home buyers have displayed a lot of faith in the larger brand association of these real estate firms, as well as factors such as delivery capability, brand equity and goodwill they naturally bring.

Santosh TR,

22nd December 2015

Hi Saran,
Actually, company wants to monetise its retail mall portfolio and use some of the land to build offices. The company partner with Bengaluru based developer in its north Bengaluru project in Hebbal, where it is developing residential apartments on about 45 acres. It plans to bring in a joint venture partner who will develop the remaining 20 acres.

Balaji, Bangalore

22nd December 2015

Comment

And the second one in its upcoming transit-oriented development (TOD) in the 1 million sq-ft. of retail development. project at Seawoods, Navi Mumbai, built around the railway station of Seawoods, Darave. The developer also has 4 million sq-ft. of office space coming up there as part of a 40 acres mixed development under the project Seawoods Grand Central.

Vineet Tendulkar, Mumbai

22nd December 2015