Crompton Greaves joins hands with K Raheja Corp to develop its headquarters
Home appliances maker Crompton Greaves has entered into an agreement with realty developer K Raheja Corp to jointly develop its headquarters CG House. Spread over an acre of space the project would be located in Mumbai’s plush Worli locality.
The headquarters of the company which is engaged in the design, manufacturing, and marketing of products related to power generation, transmission, and distribution & rail Transportation, is built on leasehold land.
As per the term sheet signed by both companies, the developer will be granted rights to develop the land parcel by demolishing the existing structure and thereafter constructing one or more buildings. The development agreement is expected to be signed within 45 days of the execution of the term sheet or such extended period as may be agreed.
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