A sprawling 37-acre expanse located in Bhandup, one of Mumbai's largest land parcels, formerly owned by the now-defunct engineering firm Guest Keen Williams (GKW), is set to undergo a joint development venture involving the landowner and real estate company Mahindra Lifespaces.
According to a reliable source familiar with the transaction, the projected worth of this mixed-use project, encompassing residential, retail, and office spaces, falls within the range of Rs 8,000 crore to Rs 11,000 crore. The property's owner, industrialist K K Bangur, had been attempting to divest the land for several years. However, there had been no takers due to the steep asking price of Rs 2,500 crore. The source explained, "Despite its proximity to the railway station and its connection to LBS Marg, no buyer was willing to meet this price for the Bhandup property outright."