The Maharashtra Housing and Area Development Authority (MHADA) has sold a plot of land in Mumbai to Gurugram-based hospital chain Medanta for Rs 125 crore.
The 2.2-acre (8,850.25 square metre) plot is in the city's western Oshiwara suburb in Andheri and was sold through an e-auction, MHADA’s Mumbai regional board said in a release on July 16.
The plot was reserved for building a hospital and the reserve price was Rs 67.5 crore.
The board also announced the sale of land, through e-auctions, across Mumbai, especially in Vikhroli and Malad areas, all of which were reserved for educational facilities, for a total of around Rs 67.3 crore.
Global Health, which operates Medanta hospitals, was established in 2004 by Dr Naresh Trehan as a super-specialty tertiary-care hospital in Gurugram. The chain has since expanded to Uttar Pradesh, Madhya Pradesh, Jharkhand and Bihar.
The Global Health stock ended July 16 at Rs 1,205 on the National Stock Exchange, down 0.53 percent from the previous close. Markets are closed on July 17 on account of Muharram.
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