MICL reale estate acquires development rights of 10 housing societies
Man Infraconstruction’s property development entity MICL Real Estate has acquired development rights for a total of 10 adjoining housing societies in the Ghatkopar suburb of Mumbai. The firm has acquired the rights to redevelop these housing societies through its subsidiary MICL Creators LLP wherein it holds 60% partnership interest.
The project is estimated to have a total revenue potential of over Rs 1,200 crore based on the current property rates in the vicinity.
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