NILA INFRASTRUCTURES LTD. RECEIVES LETTER OF INTENT FOR CONSTRUCTION WORK OF SLUM REHABILITATION

The company has received a Letter of Intent from Ahmedabad Municipal Corporation for the construction and development of residential units and commercial shops by rehabilitating slums at Ahmedabad, pursuant to PMA Scheme and Slum Rehabilitation Scheme of the Government. The project envisages construction and development of 854 residential units and 10 commercial shops for a total development cost of INR 99.08 Crore, with the company receiving Transferable Development Rights (TDR) of INR 70.34 Crore and Land Premium of INR 28.74 Crore as consideration.,