L&T Realty, has entered into a binding agreement to jointly develop projects in South Mumbai, western suburbs and Thane worth ₹8,000 crore, with development potential of 4.4 million square ft.

This is a part of company’s larger plan to strengthen its footprint in major metros by adding around 5 million sq ft per year over the next five years.

‘Signature elements’

Shrikant Joshi, MD & CEO, L&T Realty said, “We are committed to expanding our reach and continue looking into new markets. With signature elements from L&T Realty, these projects will have iconic features that are designed keeping in mind global norms of excellence while also being a testament for their trust on us with faster execution capabilities.”

The South Mumbai project will be developed on a five-acre parcel that offers a clear view of the harbour along with good connectivity to all parts of Mumbai. This residential complex will have 50-storey twin towers with luxury amenities and retail.

The project in the western suburb is set in Andheri, a prime location. This would be L&T Realty’s first in that area where the company will develop a modern gated residential complex comprising 20 towers and a shopping complex.

The Thane project will be developed on six-acres in the heart of the city. Surrounded by good social infrastructure and with ample amenities in-house, these high-rise residential towers will stand tall in the skyline of Thane. L&T Realty has an extensive portfolio spanning 70 million square ft across residential, commercial and retail developments and is currently present in Mumbai, Navi Mumbai, Bengaluru, Chennai, NCR and Hyderabad.