KalpataruBid Highest for Mondelez India’s Thane Land Parcel
Realty developer Kalpataru with a price of Rs 282 crore, has emerged as the highest bidder for Mondelez India’s (formerly Cadbury India’s) 8 acre land parcel in Thane. There were many other leading bidders in the race to acquire the land. The auction was concluded recently and the deal is likely to be completed over the next couple of months,” said a source. Located on Pokharan Road 1, the land is estimated to have development potential of nearly 1 million sq. ft. The current property prices in the vicinity are ranging between Rs 10,000 to Rs 12,000 per sqft, according to property consultants. In 2013, Mondelez India sold Cadbury House, an iconic property of India Inc and the popular landmark to signal an entry to South Mumbai, for around Rs 350 crore. Back, it was one of the huge transaction by Mondelez.
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