Mumbai: Lodha Group-owned Macrotech Builders have expressed its happiness over the Nationwide Firm Regulation Tribunal (NCLT) giving its okay for acquisition of Centaur Resort from V Resort. Macrotech will probably be growing a luxurious residential mission on the land.
”It is a 6.1 acre land parcel, located at a major location of Juhu proper on the seaside adjoining JW Marriott Resort. We’re excited on growing luxurious residential mission on this plot, promising unparalleled residing expertise and beachfront views,” mentioned a spokesperson from Macrotech Builders.
Macrotech Builders will probably be paying round Rs 890 crore to accumulate the lodge property in Juhu. V Lodges, the bankrupt lodge firm, had admitted liabilities of over Rs 2,500 crore. Monetary lenders of V Lodges had, in June 2023, accepted Macrotech’s decision plan with all voting in its favour.
The Lodha Group firm’s decision plan proposes to pay upfront Rs 78 crore to secured monetary collectors of V Lodges. The remaining quantity will probably be paid in two tranches of Rs 405 crore every, on or earlier than 210 days and 270 days from the cut-off date. V Lodges had acquired Centaur Resort Juhu Seaside from Resort Company of India underneath the federal government’s disinvestment programme.
The land is located on Juhu Tara Highway within the western suburbs of Vile Parle. It has round 367 keys with eating places, giant banquets, and a small retail element. Nonetheless, the lodge is presently non-operational.
The land parcel is said for use for redevelopment of another asset class together with residential, business, retail, or a mixture of those.