L&T Realty Acquires Mumbai Land for ₹448.6 Crore

L&T Realty, a big company that builds buildings, has bought the rights to some land in a busy part of Mumbai called Lower Parel–Elphinstone Road.

They paid a lot of money, ₹448.6 crore, for this land.

Out of this, ₹300 crore was paid right away, and the rest was paid by giving back some space in the buildings they will make.

The land is about 1.34 acres big.

This area is really important because it's in the middle of Mumbai and has good connections to other parts of the city.

L&T Realty wants to build a big commercial project here, which means offices and shops, not homes.

This is a big deal because Lower Parel and Elphinstone Road have become very popular places for real estate in the last ten years.