CG Power inks pact with K Raheja to redevelop headquarter building in Mumbai's tony Worli area moneycontrol.com
CG House, one of the landmark buildings of Mumbai's tony Worli area, will be demolished soon as CG Power and Industrial Solutions has signed an agreement with real estate major K Raheja Corp Group to jointly develop the property.
The building is the registered office for the Chennai-headquartered Murugappa Group firm CG Power.
“The company and the developer will be entitled to 50 percent share of the leasehold right and the developed building. The statutory charges/cost will be borne by the company and the developer as agreed in the signed term sheet,” CG Power informed the bourses in a disclosure.
