DLF begins to sell land parcels
DLF Ltd, India’s largest realtor by market capitalisation, has embarked on a land-selling spree. The company recently sold 500 plots of 200-400 yards in Indore, Madhya Pradesh, mopping up around Rs 110 crore at an average Rs 800 per square feet.
More sales are being consummated, some in south India, which will garner slightly larger amounts than Indore, said sources. Rajiv Talwar, group executive director at DLF, confirmed the development but said he cannot disclose price detals.
The valuations were reasonable. We are also looking to sell some hotel plots etc, he said. After DLF’s exit from the Bidadi project in Bangalore and Dankuni in West Bengal, its landbank fell to 425 million square feet compared with 751 million square feet.
More : dnaindia.com