DLF has sold its shopping mall at Saket in New Delhi to its wholly-owned subsidiary -- Nambi Buildwell, as part of a strategy to consolidate and monetise rental assets. The company’s board at its meeting held on March 17, 2016 has approved sale of 'DLF Place, Saket', a shopping mall, having built up area of 5.16 lakh square feet along with land parcel to Nambi Buildwell on arm's length basis for an aggregate consideration of Rs 904.50 crore.
This is in line with the strategy to structure ownership of existing assets to facilitate potential monetization, either through Real Estate Investment Trusts or otherwise in future, subject to necessary regulatory and statutory approvals.
DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 288 million square feet (approximately) of development potential with 45 million square feet of projects under construction.
| Company Name | CMP |
|---|---|
| Lodha Developers | 954.85 |
| Dilip Buildcon | 447.90 |
| Oberoi Realty | 1768.65 |
| DLF | 620.30 |
| Ahluwalia Contract(I | 858.75 |
| View more.. | |
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