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Maharashtra Government has approved and accepted a proposal from Sundaram Multi Pap to transfer its paper mill industrial land at Nagpur to residential land. The company owns a paper mill land unit area of 1,09,000 square meters (10.90 hectare) at Nagar Parishad, Kanhan, Pimpri, Nagpur, which falls under the Nagpur Improvement Trust. This paper mill land was under the industrial zone. However, the company had made an application on September 28 to transfer the land title of the same from industrial land to residential land. Shares of Sundaram Multi Pap closed at ₹5.6, up 6.7 per cent, on the NSE.
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