Kharghar realty deal involving Bollywood park may go bust - Hindustan Times

An ambitious realty development plan in Kharghar, which included construction of a Bollywood theme park, may be shelved due to inability of the developers to raise funds, said two individuals in the know-how of the deal. Future City Properties, a special purpose vehicle (SPV) formed by Bhushan Stee l and Essel, had bought a 250-acre plot in Kharghar from CIDCO in 2010 to develop a residential and commercial complex along with a Bollywood theme park. But problems have been brewing between the two companies over liquidity issues, an official with one of the companies said.

Visit http://hdtvlcdtvplasmatvblog.wordpress.com/ for HDTV, LCD TV, Plasma TV Blog / News / Reviews

The 250-acre land parcel was put on the block in 2009 and Future City Properties had bagged the plot with a Rs1,530-crore bid. The payment was to be made within a month. While CIDCO was to get a 26% stake in the project, the SPV retained the right to put up a residential or commercial complex in 100 acres of the land. The Bollywood theme park was to occupy the remaining 150 acres.

Kharghar realty deal involving Bollywood park may go bust - Hindustan Times