L&T Realty plans alliance with DB Realty for Malad housing project
Project to be developed on 8-acre land parcel in Dindoshi
L&T Realty is in advanced talks to form an alliance with DB Realty to jointly develop an over 1.4 million square feet residential project in Mumbai’s western suburb Malad. The project will be developed on DB Realty’s nearly 8-acre land parcel in Dindoshi locality of Malad. As per the agreement terms, L&T Realty and DB Realty will share space developed in 60:40 ratio. DB Realty, as the landlord, will be responsible for land related approvals and bear the cost to be incurred for fungible floor space index (FSI) and transferable development rights (TDR), while L&T Realty will construct, execute, brand and market the project.