Kalpataru Builders has purchased 4.5 acres in a busy Mulund area for close to Rs 200 crore in one of the biggest real estate deals in the suburbs here, a source said.
"Kalpataru builders has signed an agreement to buy 4.5 acres of land in Mulund that belongs to Schrader Duncan Ltd, a leading manufacturer of tyre tube valves and accessories," the source close to development told PTI here.
The total land area is a little over 150,000 square feet with a floor space index (FSI) of 2, the source said.
Kalpataru Builders, however, did not reply to e-mail queries seeking confirmation of the deal.
The land owner, Schrader Duncan Ltd, had shifted its automotive plant from Mulund to Ranjangaon, in Pune, in 2009, where commercial production has already started.
Before that, the company had shifted its pneumatic division from Mulund to Mhape in Navi Mum-bai.
According to a filing to the BSE, the company had sold 2 acres at the backside of the property for Rs 28 crore in December, 2006 to fund its new plant.
Schrader Duncan is a joint Venture between Delhi-based Industrialist J P Goenka and Schrader Bridgeport International Inc, USA, which is a subsidiary of global engineering and manufacturing group, Tomkins PLC, UK.
Despite several attempts, J P Goenka could not be contacted.
