Sobha Ltd Bangaluru-based company one of the well known builders with strong imagine has signed an MoU with the pipe manufacturer “Indian Hume Pipe” to develop one more stunning Residential Project In Delhi’s Badarpur area.
Residential project over 27,504.78 sq. mtrs equivalent to 2,96,062 sq. ft and property advisory firm JLL was the transaction advisor for this deal.
This MoU has allotted a limited Power of Attorney to Sobha ltd. to gather all sanction, authorization and approval. This undersigned for real estate growth will be signed by the two companies closer to the date of conversion of the land at Badarpur close to the border of Delhi and Faridabadfrom industrial to residential.
Moreover, once this agreement is signed, the returns will be in the ratio of 51.50 per cent to Sobha Ltd and 48.50 per cent to Hume Pipe Company.
Sobha Limited will incur and meet all development expenditure and other additional costs related to project, on the other hand, the cost of switching the land is under The Indian Hume Pipe Company.
