In a recent deal, a company sold its lease hold land at the trans-Thane creek industrial area for Rs 42.5 crore. The deal was between the buyer Vodafone Essar Shared Services and the seller Mukand, a Speciality steel manufacturing company.
This sale comes almost close to the recent land deal in Andheri where about 18 acres of land was sold by Borosil Glass Works to Neepa Real Estate for Rs 830-crore.
Mukand is planning to sell another land parcel in Mumbai ,in order to reduce its debts. It is understood that the company has around 55-acres that could be sold for the purpose.
A few years ago, Mukand had sold around 25-acres of land at Kurla in Mumbai for Rs 221-crore