Execution of Memorandum of Understanding
NIMBSPROJ · price
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Nimbus Projects Ltd has entered into a MoU dated May 21, 2026 with Kaamag Pvt. Ltd. and Maayins Real Estate Pvt. Ltd. for developing approximately 25 acres of land at Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh (near Radha Kund, Vrindavan). The company will pay INR 20 crore as a non-refundable upfront amount and INR 10 crore as an adjustable security deposit, totaling INR 30 crore. The project will operate under a joint development and revenue sharing model with a 50:50 split of constructed saleable area between residential and commercial development. Nimbus will handle approvals, development, marketing, and related activities. The MoU is preliminary and non-binding, subject to due diligence, title verification, regulatory approvals, and execution of definitive agreements.
This partnership signals Nimbus Projects' expansion into a significant real estate development venture with a committed investment of INR 30 crore. The 50:50 revenue sharing model and preliminary nature of the MoU mean shareholders should monitor for definitive agreements and project timelines.