Wednesday, September 14, 2011

DLF is all set to sell its NTC Mill Land


Posted: 14 Sep 2011 02:51 AM PDT

Mumbai: DLF, country’ biggest property developers is all set to sell its valued assets spread over 17.5acre and that is NTC Mill Land located in central Mumbai. According to the bakers estimation fetch between 3,000crore and4,000 crore. If this property transaction will happen then it will be the biggest ever property deals in India. In year 2005 DLF had bought that land for Rs. 702.2 crore and now according to the Bankers land will bid 4000crore in real estate market.
Whereas, company has received several offers from foreign investors for this deal including UBS, Morgan Stanley and Deutsche Bank. The appointment process is likely to complete by month end. Rajiv Talwar, group executive director, refused to comment. “We do not comment on market speculation.”
On the basis of anonymity company executive said that “this move by selling assets is in line with annual target to raise 7,000 crore through this route.” He added that “transaction amount will be used to reduce company’s debt, which is slightly over 21,000 crore.” According to the market experts Mumbai land is considered to be of great importance for the country’s largest builder as it would have helped it to venture into the Mumbai market.

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