Arunis Abode enters into MoU for redevelopment project; Stock soars 5%

24 Jan 2022 , 09:22 AM

Arunis Abode Ltd (formerly known as M B Parikh Finstocks Ltd) has informed that it has entered into Memorandum of Understanding (MoU) on January 21, 2022 with Shree Dwarka Co-Operative Housing Society Limited, to re-develop the property of the society by demolishing the existing building structure which is capable of being re-developed by utilizing existing F.S.I including T.D.R, Fungible F.S.I, roadwidth F.S.l upto 2.97 and road setback F.S.l and any other F.S.I available under the prevailing rules and regulations.

The Company has submitted final offer for re-development vide letter dated August 2, 2021.

Further, the members of the society present in the General Body Meeting held on January 21, 2022 unanimously appointed the Company as Developers to re-develop the property of the Society.

At around 9:21 AM, Arunis Abode was trading at Rs27.40 per piece higher by 4.98% on Sensex.