Valor Estate letter of acceptance from the MCGM for the construction

Founded in 2007, Valor Estate Limited (formerly DB Realty Limited) has quickly gained significant ground and solidified its position as one of India’s top real estate developers. Our legacy will be based on a solid reputation for excellence in residential, commercial, and gated community developments, even though our growth story is grounded in data and facts. For this reason, despite the difficulties we face, we are steadfastly dedicated to achieving our goal of producing superior developments in each of our market segments and keeping our word to all of our stakeholders.

MCGM awarded the project to Valor Estate Limited.

The Municipal Corporation of Greater Mumbai (MCGM) has issued a Letter of Acceptance to Valor Estate Limited dated October 11, 2024, detailing the construction and handover of approximately 13,374 affordable housing tenements under the Project-Affected Persons (PAP) Scheme on the company’s land in Malad East, Mumbai. An annex to this document contains project details. The Project-Affected Persons (PAP) Scheme involves the construction, completion, and handover of approximately 13,374 affordable housing tenements. This acceptance letter relates to Zone IV (Mumbai) and was obtained through MCGM’s competitive bidding process for 2023.

It will be detailed along with all of the terms and conditions in the final documents. features of the agreements or directives: About 13,374 affordable housing units for MCGM will be built, completed, and transferred as part of the PAP Scheme. must be completed sixty months from the date the Commencement Certificate (CC) is given.

The PAP Scheme, or Project-Affected Persons

A comprehensive evaluation of the order’s/contract’s scope; Construction of an Urban Resettlement and Housing Project in Zone IV, with payment to the Company in the form of Transferable Development Rights (TDRs) and Credit Notes; The project will include approximately 13,374 affordable housing units for PAP Plan participants.

Valor Estate Ltd. stock fell more than 3% in Intraday

Valor Estate Ltd. stock is trading right now at Rs. 195.32 per share, whereas the stock low traded today is Rs. 192.40, and it’s strange after bagging a project from the Municipal Corporation of Greater Mumbai.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.