LuLu Group & Puravankara buy Kochi land worth Rs. 308 cr
In an e-auction held by Union Bank of India, LuLu Group and leading realty developer Puravankara Projects has acquired 16.63 acres of prime waterfront property at Marine Drive in Kochi for Rs 308 crore.
The bank, the leader of a consortium of banks, had auctioned the land owned by property developer Dewa Projects to recover Rs 515 crore defaulted by the firm. The deal is said to boost the real estate sector in the state of Kerala.