L T Realty Acquires 1.34-Acre Land Parcel in Mumbai's Lower Parel for Rs 448.6 Crore

L T Realty Developers Limited has acquired land rights for a 1.34-acre site in Mumbai's Lower Parel-Elphinstone Road area for Rs 448.6 crore. The deal includes a cash payment of Rs 300 crore and an area-sharing arrangement involving 55,000 sq ft of commercial space and proportionate car parking to AVA Smart City LLP. L T Realty plans to develop a 28-floor commercial office tower with premium amenities, aiming to complete construction within 36 months. The site includes existing structures known as Khatri Estate and is located near key commercial hubs.