Satra Properties India Ltd has informed that the Company has acquired property situated at Bhopal, Madhya Pradesh, through its Special Purpose Company (SPC), in which Gammon (India) Ltd is having 51% Stake and Satra Property Developers Pvt Ltd [the Wholly Owned Subsidiary Company of Satra Properties (India) Ltd] is having 49% Stake. The Special Purpose Company (SPC) has made Development Agreement with the Government of Madhya Pradesh & Collector of Madhya Pradesh.
The proposed Project shall be one of the state of art project in Madhya Pradesh and the property is to be developed for providing Shopping Malls, Street Shops, Commercial Offices, Food Courts, Five Star Restaurants, Amusement parks, First Snow Parks in Madhya Pradesh with Modern and Hi end amenities. The property is approx. 15 acres of land situated at CBD Bhopal, Opp New Market and South T.T. Nagar, i.e. in the heart of the Bhopal city and it is the prime shopping destination of the Bhopal city. It is having Basic F.S.I. of approx 16,22,673 Sq. ft. and having saleable area of approx. 22,50,000 Sq. ft. The Land & Construction cost of the proposed project is estimated at Rs 800 Crores and has the capacity to generate the Total revenue of approx. Rs 1400 - 1500 Crores. The proposed Project is expected to be completed within 3 to 4 years.
The proposed Project shall be one of the state of art project in Madhya Pradesh and the property is to be developed for providing Shopping Malls, Street Shops, Commercial Offices, Food Courts, Five Star Restaurants, Amusement parks, First Snow Parks in Madhya Pradesh with Modern and Hi end amenities. The property is approx. 15 acres of land situated at CBD Bhopal, Opp New Market and South T.T. Nagar, i.e. in the heart of the Bhopal city and it is the prime shopping destination of the Bhopal city. It is having Basic F.S.I. of approx 16,22,673 Sq. ft. and having saleable area of approx. 22,50,000 Sq. ft. The Land & Construction cost of the proposed project is estimated at Rs 800 Crores and has the capacity to generate the Total revenue of approx. Rs 1400 - 1500 Crores. The proposed Project is expected to be completed within 3 to 4 years.
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