DLF Concludes Major Kolkata Real Estate Deal with Srijan Group

In a strategic move to monetize its commercial assets, realty major DLF has finalized the sale of its IT-ITeS SEZ project and nearly 18 acres of land in Kolkata to the Srijan Group for Rs 710 crore. This significant deal was initially announced in April last year.

According to the regulatory filing on Monday, DLF reported the completion of the transfer of its IT/ITeS SEZ undertaking. This transaction includes the SEZ property and the constructed building 'DLF TechPark II', which has been transferred to Makalu Builders LLP, an affiliate of the Srijan Group.

In addition, DLF successfully sold a 17.75-acre parcel of vacant land in Kolkata to Gangapurna Projects LLP, another Srijan Group entity. The total consideration for these transactions is Rs 710.23 crore. DLF continues to focus on residential and commercial property development, with over 352 million square feet developed and 280 million square feet of further potential.