Metal Box sells 5-acre land parcel in Mumbai to Atia

11 Jan 2023 CW Team

A 5-acre land parcel in Deonar in Greater Mumbai, belonging to Metal Box India, has been sold by the company to Kolkata-based Atia Estates which is now planning to develop a portion of it for residential purposes, registration documents from the Maharashtra government showed.

The land parcel was sold to Atia Estates for Rs 819 million late last month. Simultaneously, Atia Estates has also entered into an agreement with an entity belonging to Mumbai-based developer, Supreme Universal, to build multi-storied buildings and residential units on 4.5 acre of the total land available.

In recent years, corporates, with significant unutilised land holdings in Mumbai, are taking initiatives to monetise them by developing them either for commercial or residential purposes. Debt-laden companies struggling with cash flows are also taking advantage of the revival in residential demand in the financial capital to either sell off their land or are tying up for joint development projects.

Documents made available by data analytics firm, CRE Matrix showed that, under the development agreement, Atia Estates would be getting 20% revenue share with a market value of around Rs 1.40 billion, while the developer would have 80% revenue share in the project with a market value of over Rs 3.11 billion.

In addition, Atia Estates would also be getting Rs 707 million from the developer in a phased manner for the grant of the development rights.

Also Read
KLP and Norway's Climate Investment Fund invest in transmission
MoRTH confident of achieving highway construction target

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..