IT Park put on the block by property giant DLF; Rs. 300 to be invested
According to reliable sources, DLF which happens to be a large property giant has now projected its desire to sell more properties and land parcels that it considers “non core”. This company had missed its target in matters of debt reduction in the year of 2013-14.
According to the plans that have already been arranged, the company is going to sell its information technology park which is located in Hinjewadi of Pune. A total of Rupees 300 crore shall be spent for this purpose. DLF is willing to use the procedure so that it can reduce its huge debt. The IT Park which is about 2 million square feet is now under construction and DLF has shown interest to sell it as asset which is non core. There is another commercial property that DLF is planning to sell in the city of Pune. Earlier it had also sold an IT park to Blackstone.
The sale plan has already been confirmed by the DLF spokesperson. However there are sources which have mentioned that the company is looking forward to see a 20 acre land. This will be located near the city of Mumbai.
Source – Raghavendra Kamnath
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