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Mumbai: Kanakia Spaces negotiates for a redevelopment project at Versova

As per reliable sources, the top management of Mumbai based Kanakia spaces is in negotiations to undertake a redevelopment project of a housing society in the Versova suburb of Mumbai. As per the chairman of Kanakia Spaces, this will open up the possibility to revamp around 1,00,000 sq. ft of built up area. Kanakia Spaces is known to venture into residential, commercial projects including malls, office spaces, industrial spaces and hotels. Kanakia Hospitality, the hospitality branch of Kanakia Spaces launched in 2010 has already created a buzz in the real estate market of Mumbai by owning Courtyard Marriott in suburban Mumbai.

 

The company further plans to built and then sell three five star hotels in the near future. Recently, the group sold early 69% of stakes in Cinemax to PVR for around Rs 3.95 billions.

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