Indiabulls Real Estate’s subsidiary firm has received Rs 701 crore refund from the Delhi Development Authority (DDA) following a judgement from the Supreme Court of India. The company has returned the land, located in South Delhi, to DDA, which was allotted to it for development of housing project. The land parcel was located at Village Tehkhand, Maa Anand Mai Marg in the national capital. The project could not take off in absence of environmental clearance.
Indiabulls Real Estate is engaged in real estate development, directly as well as through various subsidiaries and associate companies. The main focus of the company is construction and development of properties, project management, investment advisory and construction services.
