mumbai jet airways and godrej properties today signed a deal to develop one of the two plots owned by the airline in the premium bandrakurla complex bkc central business district herethe deal involves godrej properties the real estate development arm of the diversified godrej group making an upfront payment of rs 135 crore to jet to compensate it for the expenses it had already incurred besides taking on the rs 350crore debt the airline has on the 25acre at c68 gblock bkc plotthe naresh goyelpromoted airline has another 15acre plot in the bkc but it is locked in a legal dispute with the sahara group the jetsahara case is pending at the bombay high court which will come up for final hearing next mondayduring a conference call with analysts after the release of first quarter results late last month the airline had said it would sell off this plot once the court verdict was outthat apart godrej properties will also sell to jet airways 161460 sqf of carpet area at development cost where the naresh goyal promoted airline will move its headquarters on completion the developer said in a release herejet airways senior vicepresident for finance shiv kumar could not be contacted for commentsgodrej properties will develop an approximately 1 million square feet of office space on the plot which will be completed in three years the company said godrej properties and jet will share profits from the development in 5050 ratio the release saidleading architects skidmore owings merrill which has designed many outstanding developments across the world including the worlds tallest building the burj khalifa in dubai has been signed on as lead architect