DLF to leave Kolkata with the sale of Sez, land parcel for £ 693 crore | Company Business News

Bengaluru: DLF Ltd on Wednesday said it had entered into an agreement to sell his Kolkata IT/ITES (Information Technology and Information Technology-Activated Services) special economic zone (SEZ), including a land pack, over 25.9 hectares to local developer Srijan Realty Pvt. Ltd. and its subsidiaries for £ 693. The commercial office Sez – Kolkata Tech Park 2 – is located in the Rajarhat area of ​​Kolkata and has a gross leakable area of ​​1.1 million square meters. The transaction is subject to regulatory approvals. “The proposed transaction must be undertaken through a slump sale,” DLF said in a regulatory filing. A sale involves a lump sum for selling an entire business. The stock of the country’s largest property firm finished about 1% lower at £ 656.60 on the BSE on Wednesday. In November, a DLF group subsidiary agreed to sell its 1.4 million square -meter office – Kolkata Tech Park 1 – in RAJUS to RDB Primarc Techno Park LLP, a subsidiary of PrimarC and RDB Group. The eastern market exit with the sale of these two properties, DLF, will leave the Eastern Realty market, which entered it almost two decades ago, when India was a real estate boom. Sriram Khattar, vice-chairman and managing director, DLF rental business, told Mint in November after the sale of Kolkata Tech Park 1 that the company would use this capital to invest in high growth markets that will deliver excellent returns for its shareholders. Gurugram-based DLF also developed a major residential project, DLF New Town Heights, in Kolkata. DLF is one of the largest commercial office developers in the country. The DLF group has an operational commercial office portfolio of more than 42 million square meters. Another 14 million square meters are under construction. The projects are largely concentrated in Gurugram, Chennai and Noida. The developer has big plans to draw up his rental income. The gross rental of commercial office space in India touched a historic high of 79 million square meters last year, according to the advice of the property advice, after the first years of uncertainties led by the pandemic. First published: 17 Apr 2025, 12:51 am Ist