Nitesh Estates Commenced Construction Of Commercial Project In Bangalore
2018-02-27 Projects Construction Southern India
Nitesh Estates Limited has made an announcement of the execution of Joint Development Agreement for the development of a prime property situated at Ali Askar Road, off Cunningham Road, Bangalore on 8th April 2011. The company could not launch the project earlier, due to certain hurdles including vacation various tenants from the premises. Now, all the tenants have been vacated from the premises.The company has commenced the project construction and financial closure of Rs 170 cr for the project has also been secured. The project will be completed in next 36 months and the property expected to generate an annual rental income of approximately Rs 50 cr and the company's share will be 50% on this venture.