Nimbus Projects Signs Land Development Deal in Uttar Pradesh

Nimbus Projects Limited has signed a Memorandum of Understanding (MoU) for a significant land development project. The agreement is with M/s Kaamag Pvt. Ltd. and M/s Maayins Real Estate Pvt. Ltd.

Project Details and Agreement Terms

Nimbus Projects entered into the MoU on May 21, 2026, for approximately 25 acres of land in Neemgaon, Tehsil Govardhan, District Mathura, Uttar Pradesh. The arrangement is structured as a joint development and revenue sharing model, with a 50:50 split for both residential and commercial saleable areas. The company will make an upfront payment of ₹20 crore and an additional ₹10 crore as a security deposit.

Strategic Expansion into Uttar Pradesh

This MoU marks Nimbus Projects' expansion into land development activities in Uttar Pradesh. The joint development model allows the company to undertake a large project with shared risk and reward, signifying a strategic move to expand its footprint in a new region.

Path Forward and Key Approvals

The company will now proceed with due diligence, title verification, and the execution of definitive agreements. Regulatory approvals will be a key step before the project can commence.

Potential Risks and Conditions

The MoU is preliminary and non-binding, except for specific clauses. Success is contingent on satisfactory due diligence and title verification. Regulatory approvals are critical for project commencement, and definitive agreements need to be finalized.

Upcoming Milestones

Execution of the definitive joint development agreement is the immediate next step. Investors will watch for updates on due diligence, title verification, and regulatory approvals.