Textile Mills Plots In B'lore For Sale For Rs 350- 400 Cr

Two textile mills plots of around 15.25 acres spread across the defunct TR Mills Private Limited and Chandra Spinning and Weaving Mills Private Limited is for sale for around Rs 350- 400 Cr.

The land is owned by the Manohar Family.

Real Esate marketing firm LJ Hooker is handling the sale process.

Transaction Reference: Mint

The plot is located at Chamrajpet in South Bangalore and is expected to be used for residential and commercial development.

A little away from the said area, 26 acres of mill property, Binny Mills, has been developed into a huge residential complex by Dubai-based ETA Star Property Developers (P) Ltd.

Mantri Developers Pvt. Ltd developed a portion of a 22-acre mill land, which it bought in 2005 from National Textile Corp. Ltd for around Rs 100 Cr, into a shopping mall.

NTC plans to sell two more mill lands in the city over the next few weeks for a total of around Rs 340 Cr.

A similar trend follows in Central Mumbai too. Recently Indiabulls bought 8.39-acre Bharat Textile Mill property from NTC for Rs 1,505 NTC is also looking to sell he 2.5-acre Podar Processing Mills property in Worli.

Mafatlal Industries has proposed to sell 14 acres of its mill land adjoining the Byculla zoo.

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