Delhi: Phase II of monetization of land near International airport set to begin
Publicly-held, Bangalore-based realty firm GMR Infra is set to commence the second phase of monetisation of its land parcel near the Delhi International Airport. The phase will likely begin during the ongoing financial year.
For the 230-acre land, GMR Infra – which manages the airport – is expected to get a price of more than Rs 100 crore per acre. As per the projections, the price which the firm may get for the land can also go in the range of Rs 105-110 crore per acre.
Earlier, in 2009, GMR Infra had got a price of Rs 75-90 crore per acre in the first phase of monetisation of its 45-acre land parcel close to the International Airport, which is a landmark public-private partnership project.
While the 45 acres of land was largely sold to bigwig hospitality firms, GMR Infra may – this time round – try to seek approvals for also selling 230 acres to other companies besides those from the hospitality sector.
Meanwhile, with regard to the second phase of monetisation of GMR’s land parcel, a company spokesperson told Business Standard that “the amount of land to be monetised is not yet finalised.” The spokesperson also refused to divulge the price at which Delhi International Airport is planning to sell the land.
Source- Business Standard
