October 5, 2018:
Keppel Puravankara Development Private Limited (KPDL), a Joint Venture between Puravankara Limited & Singapore-based Keppel Land, has entered into an agreement to acquire a Prime 7.635 Acres Site in Yeshwantpur, Bengaluru, from Metro Cash & Carry India Private Limited (MCCIN).
Total consideration is approximately Rs. 405 Crore that includes the cost of approximately Rs. 80 Crore for KDPL to construct aRetail-Cum-Office facility on the land, which will be handed over to MCCIN.
Anup S Shah Law Firm advised Keppel Puravankara and the team was led by Partner Anup Shah.
IndusLaw acted for Metro Cash & Carry and the team was led by Partner Navin Syiem along with Principal Associate Nitin Gera, Associate Aadhya R Chauhan.
Partner Karthik BM provided Real Estate Regulatory Support.
Keppel’s first commercial development in India is for the development of the Mixed-Use Project.
It is one of the largest ‘Commercial Land Deals’ in Bangalore.
Source: Business Line