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No takers for NTC mill land

In another clear indication of the slump in the real estate sector, over ten acres of prime property in Mumbai went abegging as most major real estate developers remained disinterested.

State-owned National Textile Corporation, which had invited tenders for its 10.8 acre Finlay mill in Parel, received less than half the reserve price forcing the PSU to go for a re-tender.

NTC had expected Rs1,065 crore for the mill but the highest bid that it received was less than half that price. It is now going for a re-tender by the end of this month with a 20% lower reserve price.

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