DLF, India’s largest real estate developer, was the sole bidder for the 350-acre land parcel in Gurgaon put up for auction by a Haryana state corporation.
With a reserve price of Rs 1,700 crore, the land deal would be the biggest since March 2008, when BPTP outbid DLF to win land worth Rs 5,000 crore in Noida near Delhi, but finally called it off.
It’s the fourth-largest land deal in India in terms of value after Delhi-based BPTP’s failed purchase of Noida land, Unitech’s Rs 3,300-crore buy in Vishakhapatnam in 2007 and Adani’s Rs 2,250-crore deal in Mumbai in 2006. India’s second-largest developer Unitech and newcomer Bharti Realty too were vying for the piece of the land located on the Gurgaon-Faridabad Road, but were technically disqualified.
Times of India