Online auction for Golden Tobacco land

By Pallavii Pitale

Golden Tobacco (GT), the known cigarette-manufacturing company, has recently put  it’s 5.5 acres of plot for an online auction.

Having recently  shifted its all manufacturing units to Vadodara in Gujarat, the company wants to sale this plot which is in the Marol Industrial Area situated near Chhatrapati Shivaji International Airport at Mumbai.

Though the plot is in the close proximity of Mithi river, it is very near to the air port. According to the tender document posted by Golden Tobacco, a minimum of 1-lakh square feet of space can be constructed on the land.

Taking into account some deals in the area in the recent past like, sale of a 18 acres plot by the known glass manufacturing company, Borosil, for 870 Cr., this deal may fetch the company almost 100 Cr.The reserve price for the land being 50 Cr.

The property of the company at Vile – Parle ( W ) was sold earlier, this year for 591 Cr.