L&T to invest Rs.500 Crore realty project in Mumbai

L&T will invest about Rs 500 crore on a slum rehabilitation project at Parel. This project will be a joint venture with Omkar Realtors & Developers. The company also looking at another project near Laxmi Industrial Estate, Andheri.

The new project by L&T Realty in Parel is spread over 17 acres of land. It will have a slum rehabilitation portion of 25 lakh square feet with a saleable portion of another 25 lakh square feet.

L&T Realty will handle the construction and marketing of the entire project with Omkar.