Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has auctioned 11.76 acres in Gurgaon, for which DLF has bid for a record Rs 1,496 crore.Three sources aware of this matter have given this information. Apart from this, the company may have to pay 143 crores rupees separately for transit-oriented development rights. DLF will also pay Rs 120 crore for this land registry. If all of them are added, the total amount goes up to Rs 1,759 crore, while the reserve price of Rs 686 crore was fixed for this land.
This is a startling price for a piece of land in the National Capital Region (NCR). Land deals were done through Monday night e-auction. In this, the base price of Rs 127 crores per acre was kept, which crossed all the benchmarks. For this, the last round was a match between DLF and Bharti Realty. In this quote, Indiabulls Real Estate, Experience Developers, Emar Group, Ambassi Group and RMZ have also shown interest. Bharti Realty made the second highest bid for this land with Rs 1,446 crore.
An HSIIDC official said on condition of anonymity that the subsidiary of DLF has made the highest bid of Rs 1,496 crore. However, the response from the company was not received until the question was written on Tuesday by the email. In November last year, Global Home Furnishing Company, IKEA bought 10 acres of land in Gurgaon for Rs 842 crore. He had obtained this piece of land in e-auction from Huda. Hooda is the development agency of the Haryana government.
This land is near NH 8 near Oberoi Hotel in Gurgaon. Commercial and retail space can be developed on this. Ankur Shrivastav, chairman of General Property Advisers, said, “It can be considered as an extension of the DLF Cyber City Micro Market. This shows that DLF NH8 wants to maintain its control in the case of pricing, supply and occupy profiles on the Cyber City Micro Market.
The land bought by the company can be expected to give 23 lakh square feet of space lease. The floor space index for this plot is 1.75 times, which will be 3.5 times after the benefit of the transit oriented development rights. This land can be developed through DLF Cyber City Developers Limited (DCCDL), which is a joint venture of the company with Singapore’s sovereign fund GIC. The promoters of DLF sold 33.34% stake in Rental Unit DLF Cyber City Developers Limited for Rs 8,956 crore. The deal was completed on 26th December. The company now has 66.66% share in this subsidiary.