GTM forms JV with UK-based Konichiva Builders Ltd
Real estate firm GTM Builders and Promoters Ltd has entered into a 50:50 joint venture agreement with UK-based Konichiva Builders Ltd to develop a residential complex in Rajasthan with an investment of over Rs 200 crore.
By PTI |
NEW DELHI: Real estate firm GTM Builders and Promoters Ltd has entered into a 50:50 joint venture agreement with UK-based Konichiva Builders Ltd to develop a residential complex in Rajasthan with an investment of over Rs 200 crore.
The JV, GTM Konichiva Builders, would be in the nature of a partnership firm, according equal status to both the partners, GTM Builders and Promoters Ltd said in a statement.
The residential complex, located at Bhiwadi, Rajasthan, would be developed over two million sq ft of area and comprises 1,200 flats and a commercial complex.
Konichiva Builders, which is engaged in the business of acquiring, consolidating and developing residential townships and other real estate activities, has been promoted by NRIs.
City-based GTM group is also engaged in the business of jewellery, music and blankets besides real estate.
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