KepLand to take 49% stake in Mumbai township JV
Investment will cost 4,091m rupees; first such tie-up between a Singaporean developer and an Indian developer for a township in the fast-growing region
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KEPPEL Land, through its wholly-owned subsidiary Lipalton, will be acquiring a 49 per cent stake in a joint venture with Indian developer Rustomjee Group to develop a 51.4ha integrated township in the Thane district of Mumbai for 4,091 million rupees (about S$78.2 million).
This is believed to be the first such collaboration between a Singaporean developer and an Indian developer for a township in the Mumbai Metropolitan Region, which is among India's fastest-growing regions.
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