Lodha, Raheja co in race to buy Tata Steel land

Mumbai-based Lodha group, one of the Raheja group companies have joined race to buy Tata Steel's 25 acre land in Borivali in Mumbai, sources in the know said.

Lodha declined to comment on the subject while Tata Steel executives could not be contacted for comments.

The land parcel is expected to be worth over Rs 1000 crore. January 3 was the last date for submission of expression of interest and qualified bidders need to submit initial offers by Febraury 10. The plot used to have a steel plant which was shut four years ago due to various issues faced by the company.

UK-based property consultant Knight Frank is the consultant for Tata Steel for the sale of the plot.