Real estate major DLF is set to close the Swatantra Bharat Mills (SBM) real estate deal with DCM Shriram Consolidated (DSCL) for over Rs 1,600 crore on Thursday. This will be the largest private sector land deal in the country and will give DLF access to about 38 acres of prime land, at a distance of just about 4-5 km from the capital’s central business district, Connaught Place.
Interestingly, the company had bought about 25 acres of land contiguous to the SBM plot in 2005. DLF already has an in-principle approval to develop an IT SEZ on this land.
Earlier this year, the company acquired another 2 acres in the same locality.
With the acquisition of SBM’s 38 acres, DLF will have a 65-acre contiguous landbank in Delhi. If the real estate major goes for an integrated township on this land, it will be the largest such project inside a city.
Also, this will probably be the first integrated township of its kind, combining an IT SEZ with a massive housing supply for those working in the SEZ.
(Source:Economic Times )
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