American consulate properties have generated considerable interest in Mumbai's real estate circles are "Negotiations are at an advanced stage to deal is expected to be concluded in less than a month to said an industry source tracking the sale in the US government had set a reserve price of Rs 850 crore for Lincoln House found no takers when it invited bids late last year in more big developers found the price too high because the development potential of the plot is limited due to coastal regulation zone (CRZ) restrictions and the heritage tag the property enjoys said the source.
The market sources said indications were that the Tatas may have quoted an amount "close to the reserve price'' to another property market insider claimed that the salt-to-software group has already made an upfront payment for the Breach Candy property to builder is not wishing to be identified told they Tata officials are telling people they have taken the consulate property for development.
A sale can be effected subject to an approval from the ministry of external affairs, government of India, and from the state government and authorities to may be applicable in the time-frame for grant of such approval is not definite and on receiving such approval in the United States government will notify the successful bidder said, the document in the event the US government is unable to obtain the approval within 90-180 days to may terminate the arrangement of prospective transfer of the property to the successful bidder and refund the money deposited by the successful bidder to the US government may approach the successful bidder for a mutual decision on extension of the time limit for obtaining the said approval from the ministry of external affairs it said.
The market sources said indications were that the Tatas may have quoted an amount "close to the reserve price'' to another property market insider claimed that the salt-to-software group has already made an upfront payment for the Breach Candy property to builder is not wishing to be identified told they Tata officials are telling people they have taken the consulate property for development.
A sale can be effected subject to an approval from the ministry of external affairs, government of India, and from the state government and authorities to may be applicable in the time-frame for grant of such approval is not definite and on receiving such approval in the United States government will notify the successful bidder said, the document in the event the US government is unable to obtain the approval within 90-180 days to may terminate the arrangement of prospective transfer of the property to the successful bidder and refund the money deposited by the successful bidder to the US government may approach the successful bidder for a mutual decision on extension of the time limit for obtaining the said approval from the ministry of external affairs it said.
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