Indiabulls Real Estate is planning to sell its housing and commercial assets in Chennai. This is part of company’s strategy to exit non-core market and restructure its business. The company is planning to hive off commercial and leasing business into a separate entity - Indiabulls Commercial Assets.
Last year in April, the company had announced plans to restructure its business by creating a separate venture for commercial and leasing operations as part of efforts to focus on each segment.
Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.
