Iconic Property Developers, a wholly-owned subsidiary of Suraj Estate Developers (SEDL), has acquired through conveyance a vacant parcel of land admeasuring about 15,758 sq ft situated at Senapati Bapat Marg, Mahim (W), Mumbai for a consideration of Rs 101 crore.
The entire consideration along with stamp duty and registration charges has been fully paid. The company plans to develop a commercial building with an estimated carpet area of 1.03 lakh sq ft with a gross development value (GDV) of around Rs 525 crore.
The newly acquired land parcel is situated adjacent to a previously acquired vacant plot, intended for the development of a commercial building. The amalgamation of these two plots, will enable the development of a composite commercial building with larger floor plates.
In a separate regulatory filing, the company informed that Mrutyunjay Mahapatra has tendered his resignation as non-executive independent director of the company with effect from December 03, 2024.
