Nahar in redevelopment agreement with Yash Birla group

Realty firm Nahar Group has entered into a joint development agreement worth Rs 34 crore with the Yash Birla Group to redevelop the latter's three residential buildings in Tardeo in central Mumbai.
Nahar will be redeveloping Akhil Bharat Bhavan and two buildings of the Ansuya Co-operative Housing society.
"We will be jointly developing the property spread across 4,300 metre squares with our share being 50 per cent. We will be contributing Rs 17 crore towards the deal worth Rs 34 crore," Nahar Group vice chairman Manju Yagnik told PTI.
The buildings house a total of 159 tenants, she said.
Asked about the redevelopment plans, Yagnik said, "We are still working on the details of development and the composition, whether it will be mixed-use or luxury residential, etc."

On the cost the company is expected to incur for development, she said, "The cost will be much higher as it includes redevelopment of three buildings. We are working out the cost and so cannot share it right now.