Mumbai News: Pune Developer Buys Juhu Plot For ₹550 Crore

Mumbai: Pune-based developer, Honest Vastunirman, has picked up a massive 20.07 acre of land parcel in the prime area of Andheri West for ₹549.83 crore. The transaction for the land, which earlier belonged to Arogya Bharti Health Parks and Arogya Bharti Hospitals, was formalised on June 16 for ₹32.99 crore. The plot sits right next to Airport Authority of India’s wireless transmitting station at the Juhu Vile Parle Development Scheme, where Khubchandani Hospital stands.

Land reserved for 3 purposes

The land has been reserved for three purposes; hospital, public open spaces for tourism development zone and education, showed the document accessed via CRE Matrix, a real estate data analytics firm. There also are some encroachments on the plot’s frontage along the Juhu lane. As per the plans in the document, the plot can have a hospital, school for class IV workers, sports academy and a facility related to tourism. The periphery of the plot has been reserved for a new road that will connect C D Barfiwala Road with Gilbert Hill Road/J P Road.

Prior to the Arogya's ownership, the plot was with Bai Kabibai and Hansraj Morarji Charity Trust. Hansraj Morarji public school, Rajhans school as well as Bai Kabibai Balvatika are on the northern end of the land parcel.