India's biggest real estate firm DLF is selling a 27.5 -acre plot of land in Gurgaon for nearly around Rs 400 crore. The plot has all approvals and permissions for building a group housing project in place, including an approval for a built-up space of 20 lakh sq ft.
Real estate players such as Tata Realty and M3M Developers are believed to be in the race for the land.
DLF is asking for a price of Rs 2,000 per sq ft.
The land in Sector 70 A is close to the new southern peripheral road in Gurgaon, which will connect national highway 8 with MG Road.
DLF had said in 2011, May that it would focus on selling plots to reduce execution risks that come with developing group housing projects. It will also enhance momentum on non-core divestments to reduce its debt of Rs 24,000 crore.
In the last few months, it has sold 400 plots in its 101-acre gated township Garden City in Gurgaon's sector 91-92, raising Rs 700 crore.
DLF is also selling its shareholding in two IT buildings in Pune and Noida. The combined sale by DLF and co-promoters Ackruti City and The 3C Company is expected to generate Rs 1,300 crore.
DLF had said that it plans to sell developed assets, including IT Parks and its hotels business and raise about Rs 7,000 crore over the next two years to reduce its debt.
Real estate players such as Tata Realty and M3M Developers are believed to be in the race for the land.
DLF is asking for a price of Rs 2,000 per sq ft.
The land in Sector 70 A is close to the new southern peripheral road in Gurgaon, which will connect national highway 8 with MG Road.
DLF had said in 2011, May that it would focus on selling plots to reduce execution risks that come with developing group housing projects. It will also enhance momentum on non-core divestments to reduce its debt of Rs 24,000 crore.
In the last few months, it has sold 400 plots in its 101-acre gated township Garden City in Gurgaon's sector 91-92, raising Rs 700 crore.
DLF is also selling its shareholding in two IT buildings in Pune and Noida. The combined sale by DLF and co-promoters Ackruti City and The 3C Company is expected to generate Rs 1,300 crore.
DLF had said that it plans to sell developed assets, including IT Parks and its hotels business and raise about Rs 7,000 crore over the next two years to reduce its debt.
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