DLF likely to sell 50% stake in Mumbai project
Realty firm DLF Ltd may sell 50% stake in one of its upcoming commercial projects in suburban Mumbai, people close to the development said on condition of anonymity.
The project, called Niharika in Andheri East, is a 50:50 joint venture with city-based developer Akruti City Ltd.
DLF is likely to raise up to Rs400 crore from the sale of 900,000 sq. ft space in the project to a foreign fund, these people said.
Niharika is a mixed development project with both retail and commercial office facilities.
The deal is still in the process of legal documentation and could be signed early next week.
More : livemint.com