Joint Venture12 Jun 2025, 03:19 pm
Cinevista Ltd Approves Joint Development Agreement with K Raheja Corp Real Estate Pvt Ltd for 'Antares' Project
AI Summary
Cinevista Ltd's Board of Directors approved the details of carpet area sanction received for the 'Antares' project, a residential-cum-retail project developed jointly with K Raheja Corp Real Estate Pvt Ltd. The project is progressing rapidly and has received a positive response in terms of bookings. The completion date for the entire project is November 2029. Cinevista Ltd will receive 24.5% of the project’s total revenue, which includes constructed area, retail spaces and revenue share. The company's JDA project with K Raheja Corp Real Estate Pvt Ltd for ‘Raheja Antares’ has a total carpet area of 3,19,575 square feet, out of which 70,101 square feet is residential and 8,870 square feet is retail.
Key Highlights
- Cinevista Ltd and K Raheja Corp Real Estate Pvt Ltd have a Joint Development Agreement for the 'Antares' project.
- The project is a residential-cum-retail project with a total carpet area of 3,19,575 square feet.
- Cinevista Ltd will receive 24.5% of the project’s total revenue.
- The project has received a positive response in terms of bookings.
- The completion date for the entire project is November 2029.