K Raheja Corp, Modern India ink pact to develop 1-million-sq-ft luxury project in South Mumbai.

Realty developer K Raheja Corp’s residential development arm K Raheja Corp Homes has entered into an agreement to develop a 1-million-sq-ft luxury housing project spread over 3-acre prime land parcel in South Mumbai’s Mahalaxmi locality.

The project will be developed through an agreement for sale of the plot currently owned by Modern India that has business interest spanning across infrastructure, power generation and real estate.

ET