Kalpataru Ltd. has purchased 4.5 acres of land from 
Schrader Duncan Ltd. for Rs. 200 crore.
The total land area is a little over 1.5 lakh square feet with a floor space index (FSI) of 2.
Schrader Duncan Ltd, is manufacturer of tyre tube valves and accessories. It had shifted its plant from Mulund to Ranjangaon, in Pune, in 2009. Before that, the company had shifted its pneumatic division from Mulund to Mhape, in Navi Mumbai.
The company’s filing mentions that it had earlier sold 2 acres of the property for Rs 28 crore in December, 2006, to fund its new plant.
Transaction Reference: ET
Kalpataru Developers is part of the Kalpataru Group based in Mumbai.
Scrader Duncan is a JV between Delhi-based J P Goenka and Schrader Bridgeport International Inc, USA, which is a subsidiary of global engineering and manufacturing group, Tomkins PLC, UK.
The pace of the market has picked up in Mumbai. Recently Wadhwa Group was rumoured to be acquiring a 2.5 acre plot in BKC from RIL. Lodha Constructions bought a 22.5 acre plot from MMRDA for Rs.4,053 crore in Wadala at an auction.
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