Nirmal Constructions, a leading real estate and construction group, is set to acquire the 20 acre Burrows Wellcome property at Mulund (a Mumbai suburb) for nearly Rs 230 crore (Rs 2.3 billion).
At this valuation, it would be one of the largest property deals in recent times in Mumbai.
The property is currently owned by GlaxoSmithKline Pharmaceutical Ltd following the merger of Borrows Wellcome with it a couple of years ago.
Sources said the deal is almost through as Nirmal Construction is the final contender among the three short-listed bidders for the property. The property was put on the block some time back.
Oberoi Constructions and Runwal Builders were also shortlised, but lost in the final round of negotiations, sources said.
However, the GSK spokesperson said the committee, which has been appointed for the property bidding, is currently in the process of evaluating and finalising the bidder. “We are yet to hear from the committee about the deal. So we cannot comment about it at this point of time,” he said.
More: inhome.rediff.com
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