MoU1 Oct 2024, 07:15 pm
IEL Ltd Acquires 29,598.89 Square Meters Land in Lucknow for Rs. 11.80 Crores
AI Summary
IEL Ltd has entered into a Memorandum of Understanding with M/s Chauras Corporation, a Partnership firm, for the purchase and acquisition of land at Village Neeva, Sarojani Nagar, District Lucknow, Uttar Pradesh. The land, approximately 29,598.89 square meters, is acquired for a total consideration of Rs. 11.80 Crores. The purpose of the acquisition is for the construction, development, running, managing, and operation of a warehouse, storage house, godowns, cold storage, or any other establishment. The agreement is exclusive and subject to necessary approvals and consents. The land will be utilized within a year from the date of execution of the agreement.
Key Highlights
- IEL Ltd is acquiring 29,598.89 square meters of land in Lucknow, Uttar Pradesh.
- The total consideration for the land is Rs. 11.80 Crores.
- The land will be utilized for the construction, development, running, managing, and operation of a warehouse, storage house, godowns, cold storage, or any other establishment.
- The agreement is exclusive and subject to necessary approvals and consents.
- The land is expected to be acquired within a year from the date of execution of the agreement.