IITL Projects signs Rs 10 cr investment deal for Mathura township project
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Awaiting price reaction for this filing.
IITL Projects signed a Strategic Investment Agreement with two land owners for a residential township in Mathura, UP. The company will invest up to Rs 10 crores on a 3-acre project. In return, it gets 2,400 sq yards of saleable area to be sold at minimum Rs 50,000 per sq yard by March 2028. Land Owners jointly guarantee a minimum return of Rs 12 crores, with title deeds kept as security. No equity stake is acquired. Default attracts 16% annual interest.
Small real estate investment of Rs 10 cr with Rs 12 cr minimum guaranteed return and title deed security. Limited upside but downside protected at 16% annual interest.