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NEW DELHI: The process of selling closed mills of National Textile Corporation in Mumbai is expected to resume soon with the state-run company inviting bids for India United Mill in the next few days. Of the 17 mills that NTC has in Mumbai, two each would be handed to Maharashtra government and ...
NTC expects to raise Rs 4,000 crore from the sale of assets in Mumbai, Kanpur and Indore. Union Textile Minister Dayanidhi Maran said the assets include land on closed mills and the sale was important for the NTC's modernisation plans.
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While the reserve price (starting price) of the Bharat Textile Mills has been fixed at Rs 750 crore, industry sources said NTC could fetch higher going by the company's previous experience. In 2005, a NTC mill plot at Worli was sold for 274 per cent over and above the reserve price.
Mar 11, 2019 · 2005 – In March 2005, the National Textiles Corporation (NTC) had 25 mills in the city worth nearly Rs 5000 crore. They sold their mills in following way: 1) Sold Jupiter Mills to IndiaBulls for Rs 276 crore. 2) In June, the Mumbai Textile Mills was sold for Rs 702 crore,
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Jul 29, 2010 · The block of land that came under the hammer on Thursday was a property measuring 2.39 acres of Podar Mills in Mumbai. A reserve price of Rs.250 crore has been fixed for the land. ... NTC .
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Jul 24, 2007 · Of the 17 mills that NTC has in Mumbai, two each would be handed to Maharashtra government and Mumbai administration. "After transferring two mills each to Maharashtra Housing and Area Development Authority (MHADA) and Brihanmumbai Municipal Corporation (BMC), 11 mills would be available for sale to real estate developers," a government source said.
Author: PTI
With an objective to bring transparency in the process of sale of land of the closed mills of the National Textile Corporation Ltd (NTC) Thiru Dayanidhi Maran, Union Minister of Textiles, commenced the e-auctioning of the sale of land of NTC in Mumbai.
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Jan 20, 2010 · It had already sold land of five mills in Mumbai. "We hope when the real estate market improves, NTC will be able to fetch Rs. 4,000-crore from assets sales .
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Sep 16, 2004 · This will help transform central Mumbai heartland into an international commercial hub, planners say. NTC proposes to sell 145 acres of mill land (185 acres of FSI) and generate an additional 24 acres of TDR (transferable development rights) for sale outside the mill complexes.
Out of the total land belonging to the NTC mills in Mumbai ie around 266 acres, they have given just 6.07 acres for mill workers housing. An equal area has been given to the city, making a .
The NGO had said NTC had 25 textiles mills spread over 285 acres in prime locations of the city estimated to be worth around Rs 5,000 crore (Rs 50 billion).
NTC puts 8-acre Worli mill land on the block. The court referred the matter to the BIFR, which recently upheld the sale of this mill to the Lodhas. But the biggest windfall for NTC was in 2005 when it sold five of its mills in the city for over Rs 2,000 crore. The five mills that were sold that year included Mumbai Textiles, Apollo, Kohinoor and Jupiter.
Feb 29, 2012 · To build tenements for all of them, MHADA needs 200 acres of land, which comes to a third of the total mill land in Mumbai, not counting the space taken up for former cotton godowns. Out of the total land belonging to the NTC mills in Mumbai ie around 266 acres, they have given just 6.07 acres for mill workers housing.
In February 2009, the NTC decided to auction another nine mills, covering an area of 90 acres, for about ₹ 40 billion (US$580 million). The Shrinivas Mills of Lalbaug, covering 16 acres, are being redeveloped into World One [21] – Asia's tallest residential building.
NTC used to have 25 mills in Mumbai. Apart from the revival of these three, it has taken the joint venture route to redevelop India United Mills No 1, Apollo Mills and Gold Mohur Mills, in south-central Mumbai. These mills were closed after NTC got approval from the .
Author: Sanjay Jog
Mumbai: Mill land sold for Rs 474 ... and realty major Indiabulls Infratech has emerged as the auction winner of 2.39 acres of prime land belonging to NTC at Worli in Mumbai for ... (NTC) for sale ...
The mills of Girangaon were once integral to Mumbai's economy, particularly during the British colonial period, when Mumbai (then known as Bombay) was often referred to as the "Manchester of the East". However, with the development of newer industries in and around Mumbai, these mills ceased to be profitable, and fell into a state of disrepair.
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Phoenix mills, Parel was converted into a "luxury mall". In 2005, the government-owned National Textile Corporation auctioned five mills, covering 600 acres, for ₹ 20.2 billion (US$290 million). In February 2009, the NTC decided to auction another nine mills, covering an area of 90 acres, for about ₹ 40 billion (US$580 million).
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Aug 01, 2009 · There are 52 cotton mills in Mumbai, of these 26 were deemed sick and were taken over by the government of India. Out of these, 25 were managed by National Textile Corporation (NTC) and by Maharashtra State Textile Corporation (MSTC). Remaining 32 mills continue to be in the private sector. Even after taken over, these mills continue to be sick.
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NTC expects to raise Rs 4,000 crore from the sale of assets in Mumbai, Kanpur and Indore. Union Textile Minister Dayanidhi Maran said the assets include land on closed mills and the sale was important for the NTC's modernisation plans.
