Washington House for Rs 375 crore Lodha Group buys

Mumbai: Nearly two years after the sale of the property after it learned in the U.S. consulate Finally, Altamount Road, Washington House, 375 crore in Lodha Group on the sale of a three-storey house. Urban real estate developer for a nominal fee of Rs 50 and Rs Embassy is. Tata real estate and other fixed and that the bidders Lincoln House, breach of candy for sale in the U.S. consul general office and place of residence is located.

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Washington three-story house across 2702 square meters. It is listed Grade III resources and control over the coastal areas. Property rate of 60,000 R and RS-70,000 sq ft. Lodha Group of current ranges to be destroyed and replaced him with a luxury residential tower.

This is a source said, have reached an agreement about a month ago, but more from the State and the Central Government, Ministry of Foreign Affairs Embassy of ink does not get along with.

Abhishek Lodha, Lodha Group managing director, said, "We have not entered into an agreement'' Anshul Jain, chief executive officer DTZ'z, global real estate transaction, has refused to comment on the consultant ..

Bidding memorandum said that the U.S. government has received the approval letter from the tenderer distance of 90-180 days of the sale of MEA and state and local government should be achieved. However, if the clearance to come through this period, the memo said, the U.S. government has chosen to transfer money back to the estate and the stock or mutual bidder to extend the deadline for approval of the MEA.

Property sources said Lodha bid to the reserve price to Rs 350 crore, in line with the current market conditions. Altamount Road, the property is expected to be received three offers. "The appetite for these assets until the position is always to be,'' said Anshuman Magazine CBRE, the global property consultant, Managing Director.

Off Pedder Road, Altamount Road by air and 10 of the world's most expensive street (2010, assets Bulletin) as the rate. Breach Candy, Carmicheal Road, Altamount Road and has always Nepeansea Road in South Mumbai, where real estate prices that start from 45,000 and 85,000 per sq ft in a prime residential location