SINGAPORE (Dec 16): Keppel Land will be acquiring a 49% stake in joint venture company Kapstone Constructions for INR 4.09 billion ($78.2 million) to jointly develop the 51.4-hectare Urbania integrated township in Mumbai, India.

The joint venture will see Keppel Land, the property arm of Keppel Corporation, partner with leading Indian developer Rustomjee Group.

Since its launch in 2006, the Urbania township has housed 2,700 residential units.

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