mumbai in perhaps the largest land transaction beyond bandra a sevenacre plot in andheri east was sold for around rs 800 crore last week the 30000 sq m popular car bazar on andherikurla road owned by mumbaibased real estate company hdil sold it to the kanakia group a few days after christmas last monththe land once belonged to the thakur family which sold it to hdil two years ago for over rs 400 crore it was earlier used as a garage today about 20 of the plot is covered by slums kanakia is likely to get about seven lakh sq ft to develop here sources say the kanakia group already has a large commercial project adjoining popular car bazar and it made sense to take it overthe kanakias own the mariott courtyard hotel in the vicinity the new plot they have acquired is also along the upcoming metro line the group plans to set up a new commercial project commercial rates in this area are around rs 15000 to rs 20000 per sq ftproperty experts described this as the largest land deal in the distant suburbs in recent times the city witnessed several big land transactions last year but most were either in the island city or up to bandrain april 2009 citybased developer wadhwa group paid a little over rs 1000 crore to reliance industries ltd ril to develop a 25acre plot c66 in bandrakurla complex bkc ril had purchased the plot for rs 918 crore through a bidding process in 2007early in 2010 the wadhwa group had paid rs 570 crore for the 18acre hindustan composites land in ghatkopar a sixacre government plot in wadala also fetched the highest bid of rs 4053 crore from the lodha group last year setting an allindia record and reaffirming mumbais numero uno position in the property marketbigticket buysrs 1505 crore worli naka indiabulls real estate buys national textile corps 8acre bharat mills in 2010 1104 crore bkc ril buys 18 acres in 2006 rs 831 crore bkc wadhwa group buys land less than 2 acres in 2007 rs 807 crore kalina sajjan jindal group buys 25 acres of orbits property in 2007 rs 702 crore lower parel dlf buys ntcs 17acre mumbai textile mills in 2005