Bharat Realty said to hold discussions with investors to develop 150-acre township near Mumbai

Bharat Agri-Fert and Realty (Bharat Realty) is planning to develop a 150-acre township at Palghar, near Mumbai and is holding discussions with strategic and financial investors to. attract investments for the project, a person familiar with the development said. 

The township would comprise an international standard residential-cum-educational complex.

“The development would be [undertaken] in collaboration with strategic foreign players and private equity players, requiring an investment outlay, which is estimated to be about ₹500 crore,” the person said.

“Of the entire land bank, at present, a small part of the land parcel measuring about 12 acres is currently in use for its fertilizer unit. Apart from this, the company also operates a 10-acre theme-based resort called Anchaviyo, having around 40 rooms. The company is planning to expand its capacity to around 80 rooms next year,” the person added.

Even as the company planned to start production of fertilizers under the new fertilizer policy announced by the Union government, it had now transformed into a predominantly real estate company. 

It is currently also undertaking development of residential space totalling about 6 lakh sq. ft. at Thane.  The company also has legacy commercial space in the Fort area of Mumbai, which is expected to be redeveloped.

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