Nimbus Projects signs MoU for Mathura land development

Nimbus Projects Ltd has executed a Memorandum of Understanding (MoU) with Kaamag Private Limited, Maayin's Real Estate Private Limited, and Mr. Sooraj Kumar, with Dashrath Singh Naruka as a confirming party. This MoU outlines a commercial understanding for the acquisition, development, and commercialization of a proposed township project on approximately 25 acres of land in Neemgaon, Mathura, Uttar Pradesh. The development will follow a 50:50 revenue sharing model between the landowners and Nimbus Projects, which will handle planning, approvals, construction, and marketing. The company will pay an upfront non-refundable consideration of ₹20 Crores and a refundable security deposit of ₹10 Crores upon execution of the Joint Development Agreement.