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Kansai Nerolac Paints to sell land parcel to Shoden Developers

Tuesday, 31 Jan 2023
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Kansai Nerolac Paints has approved a proposal for sale of land admeasuring 96,180 sq mtr at Kavesar in Thane to Shoden Developers, for a total consideration of Rs 655 crore.

The deal will facilitate the monetization of idle land parcels owned by the company which is not being put for productive use, as per the regulatory filing.

Shoden Developers is a group company of House of Hiranandani.

The sale is subject to completion of procedures and approvals as may be necessary for the deal to go through successfully.

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