Unitech has sold a hotel in Gurgaon for Rs 200 crore and is close to selling another hospitality project by June-end for a similar amount, as part of its exercise to raise funds for reducing debt.

According to a source close to the development, the company has already signed an agreement to sell its 190-room budget hotel located at NH-8 in Gurgaon.

Unitech has signed a memorandum of understanding with a high networth individual to sell its Gurgaon hotel for Rs 200 crore, the source added.

The sale of the Gurgaon hotel comes on the heels of the company selling its prime office complex at upmarket Saket in South Delhi for over Rs 500 crore. Last week, Unitech sold the office complex that comprised 2.1 million sq ft to an HNI.

Hindustan Times