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| Exchange Disseminated Time | Indian Hume Pipe Company Ltd has informed BSE that the Company was having its erstwhile factory on freehold industrial plot of land admeasuring about 6.7966 Acres situated in B-2/82, Mohan Co-op. Industrial Estate, Mathura Road, Badarpur, New Delhi - 110 044 which is closed w.e.f. August 31, 2013. Recently the Ministry of Urban Development, Delhi Division has notified modifications to Master Plan Delhi - 2021 (MPD - 2021) wherein conversion of industrial plot / unit to Residential use is permitted within Development Control Norms of Group Housing subject to the payment of conversion charges (yet to be notified). This is in addition to the norms for conversion of existing industrial units / plots to Commercial use as per MPD - 2021.
Accordingly the Board of Directors at their meeting held on October 30, 2013 has given its in-principle approval for exploring the possibility of joint development of Company’s industrial land at Badarpur, New Delhi.
The Company is in discussion with M/s. Jones Lang LaSalle Property Consultants (India) Pvt. Ltd., Property Consultants to find a suitable Developer for undertaking joint development of Company’s industrial land at Badarpur. |
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