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Kanga, KhaiCo sell 18 acres in Andheri to developer for $178m

Khaitan & Co and Kanga & Co have assisted on the sale of more than 74,000 square metres of industrial real estate in Andheri East, Mumbai from Borosil Glass Works to Neepa Real Estate Private Limited for Rs 830 crore ($178m).

Khaitan & Co partners Pradip Khaitan, Haigreve Khaitan and Sudip Mullick acted for sheet glass and laboratory and kitchen glassware maker Borosil Glass Works.

Kanga & Co partners M L Bhakta and Dhaval Vussonji advised the buyer Neepa Real Estate, which acquired the 18 acre area for development.

“This was one of the high value real estate transactions of Mumbai. The payment of the entire sale consideration was made by the purchaser in a single tranche against execution of the final transaction documents and delivery of property,” noted Khaitan & Co in a press release.

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