Early this year, Radius Developers was in the news when it acquired Ram Mansion, a bungalow on Nepean Sea Road from Ashok Piramal Group’s Peninsula Land for over Rs 235 crore. The developer is planning to redevelop the bungalow into a luxury high-rise apartment block. The property has total development potential of about 50,000 sq-ft.
In another news, HDFC and its subsidiary HDFC Capital Advisors have together invested Rs 1,000 crore in realty developer Radius Developers’ two residential projects in Mumbai. Of the two investments, the first transaction involves HDFC investing nearly Rs 600 crore in the developer’s premium project ‘X BKC’ in Bandra-Kurla Complex. In the second deal, HDFC Capital has invested about Rs 400 crore in the developers’ affordable housing project Anantya in Chembur, a suburb in Mumbai.
The company has also been exploring technologies like tunnel formwork, which it used for the first time in a Chembur project.
HDFC Capital has invested about Rs 400 crore in the developers’ affordable housing project Anantya in Chembur, a suburb in Mumbai.
