L&T Realty to ink deal with Nirmal Lifestyle to develop Mulund land

Nirmal Lifestyle, which builds malls and corporate offices apart from residential projects, has been in talks with several developers to monetise its land parcel to repay debt, which stands at over Rs1,000 crore. Mumbai: L&T Realty Ltd is close to signing an agreement with Nirmal Lifestyle Ltd to jointly develop a 16-acre plot at Mulund in Mumbai. As part of the deal, L&T Realty would pay an upfront deposit of Rs400 crore to Nirmal Lifestyle, which owns the land, according to two people aware of the development. The land parcel…

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