MoU22 May 2026, 04:51 pm
Nimbus Projects Inks MoU for Vrindavan Land Development
AI Summary
Nimbus Projects Ltd has entered into a Memorandum of Understanding (MoU) with M/s Kaamag Pvt. Ltd. and M/s Maayins Real Estate Pvt. Ltd. for the proposed collaboration/development of approximately 25 acres of land near Radha Kund, Vrindavan, District Mathura, Uttar Pradesh. Nimbus Projects will pay ₹20,00,00,000 as a non-refundable upfront amount and an additional ₹10,00,00,000 as a security deposit. The project will follow a joint development/revenue sharing model with a 50:50 split for residential and commercial development.
Key Highlights
- Nimbus Projects to develop 25 acres of land in Vrindavan.
- Upfront payment of ₹20,00,00,000 for joint development.
- Additional ₹10,00,00,000 security deposit to be paid.
- Revenue sharing ratio of 50:50 for residential and commercial development.
- MoU is subject to due diligence and regulatory approvals.
Price Impact
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