DB Realty acquires land from CropScience

DB Realty, based in Mumbai, has acquired 105 acre belonging to Bayer CropScience. The land was bought for Rs 1,540 crore. The real estate firm plans to build a rental housing project on the newly acquired Thane land. The government gives incentives to generate the rental housing stock on self finance basis. This scheme can attract additional FSI and DB Realty may get an FSI of 3. This could increase the developable area of the land to 18 mn sq ft. Contact: DB Realty. Tel: 022-4077 8600. Fax: 022-2841 5550. Website: www.dbrealty.in