Lok Housing sells property at Versova

Mumbai, Mar 9 (UNI) Lok Housing&Constructions Ltd today announced that the company has sold a property at Versova in the Western suburb of Mumbai at a value of Rs 54 crore.

The property was acquired for joint development with a jont venture partner of the Loh Housing Group.

The company also submitted a concept proposal to the Maharashtra Government for providing 15,000 flats in the 55 acres land for rehabilitation of slum dwellers or project-affected persons (PAP) and also for reconstruction of about 300 cess buildings in Mumbai in association with the state government in the direction of ''remarking of Mumbai''.

The company, in its release, said its Turbhe plot along with another land of 125 acres are under litigation with the Salt Department of the Union Government.

According to a release, the company has been discussing and negotiating with the Government of India for an out of court settlement of the litigation.

The company had submitted a proposal to this effect and was hopeful of concluding the settlement at the earliest, a company release added.

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