Shradha Realty's Subsidiary Acquires Property in Nagpur for Real Estate Development
Shradha Realty Limited, through its step-down subsidiary Raghukul Shradha Realty LLP, has entered into an Agreement to Sell for the acquisition of a significant immovable property in Nagpur. The land, situated at Nagpur Improvement Trust Leasehold Plot No. 25, Civil Station Expansion Scheme, Mashruwala Marg, Cement Road, Shivaji Nagar, is intended for real estate development activities by the LLP.The total consideration agreed upon for the purchase of the property and its existing residential structure amounts to ₹17,85,60,000/-, exclusive of applicable stamp duty, registration charges, and incidental expenses.
Raghukul Shradha Realty LLP is a subsidiary of Shradha Realty Limited, which itself was formerly known as Shradha Infraprojects Limited. The acquisition falls in line with the business objectives of the LLP to undertake real estate development activities.
Key Details of Property Acquisition Agreement
The transaction involves Raghukul Shradha Realty LLP as the purchaser and a group of sellers. The following table outlines the core details of the agreement:| Aspect | Detail |
|---|---|
| Purchasing Entity | Raghukul Shradha Realty LLP (Step-down subsidiary of Shradha Realty Limited) |
| Property Location | Nagpur Improvement Trust Leasehold Plot No. 25, Civil Station Expansion Scheme, Shivaji Nagar, Nagpur |
| Total Consideration | ₹17,85,60,000/- |
| Sellers/Vendors | Shri Udayan Govindrao Shrouti, Smt. Anita Udayan Shrouti, Shri Chidanand Udayan Shrouti, and Kumari Abhipsa Udayan Shrouti |
| Purpose | Acquisition for development and real estate activities |
The Agreement to Sell stipulates that the transaction is subject to customary terms and conditions, including the execution of necessary transfer and conveyance documents. The completion of the acquisition is expected upon fulfilling all stipulated terms under the agreement.
Furthermore, details provided indicate that the sellers are not related to the Promoter or Group Companies of Shradha Realty Limited, and the transaction is considered unrelated to a Related Party Transaction.
SHRADHA Stock Price Movement
Shradha Realty Limited's equity gained 0.84% today, successfully closing out the session at ₹34.79. The stock traded within a range of ₹34.25 to ₹35.00, with a total volume of 14,478 shares recorded for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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