1.5 Acre land acquired by K Raheja Corp
Property development firm K Raheja Corp has acquired over a 1.5-acre land parcel in central Mumbai’s Sion locality. The land is acquired from public charitable trust K J Somaiya Trust for an amount of over Rs 120 crore. The firm would also acquire an additional 0.4-acre land parcel adjoining this plot.
The acquired land parcel is part of a larger plot measuring 11.5 acres, which was part of Wadia Mahal property, and was transferred to K J Somaiya Trust through a conveyance in 1962.
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