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Calcutta property deal keeps LKS, Jalan, Khaitan busy, leaves Jones Lang optimistic

Lakshmikumaran & Sridharan advised Tata Value Homes on its joint venture to develop a 25.5 acre housing project in Kolkata with the Square group of companies which were advised by S Jalan & Co and Khaitan & Co.

LKS Kolkata partner Niloy Pyne acted for the affordable housing arm of Tata Housing Development Co on the project which, according to the Hindu Businessline, is priced at more than Rs 40 lakh.

S Jalan partner PK Sinha and Khaitan Kolkata associate Nirmal Gupta acted for Square having briefed senior advocates Shaktinath Mukherjee and Jaideep Kar. Square, according to Businessline, invested Rs 1800 crore into the project.

For real estate company Jones Lang LaSalle, which was an adviser on the transaction, this is the biggest transaction yet in Kolkata, with West Bengal set to open up further to real estate development in future, according to PTI.

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