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DLF bags Gurgaon land for Rs 1,750 cr

Press Trust Of India  |  Chandigarh 

DLF, the country’s largest realty firm, today bagged a 350-acre plot for Rs 1,750 crore in Haryana for developing a recreation and leisure project, making it one of the costliest land deals in recent times.

“The letter of acceptance has been issued to the successful bidder (DLF) after getting the approval from the state government,” Haryana State Industrial & Infrastructure Development Corporation Ltd (HSIIDC) Deputy General Manager said.

Earlier this week, emerged as the sole bidder for the 350-acre project after the bids of other parties — Unitech and Malaysia-based Consortium comprising Country Heights, Country Club of South Africa and Rajarhat IT Park — did not qualify on technical grounds.

The qualified bidder, DLF, had quoted its bid at Rs 12,000 per sq mt against the reserve price of Rs 11,978 per sq mt for the project.

Earlier, BPTP had bagged a 95-acre plot in Noida for Rs 5,006 crore in 2008, but later surrendered because of inability to arrange funds for the payment.

had acquired 38 acres in the heart of Delhi for Rs 1,675 crore. Unitech had bagged 1,750 acres in Vizag for Rs 3,350 crore, while the company won 340 acres in Noida at Rs 1,582 crore in 2006.

had invited competitive bids in January this year for allotment of 350 acres of prime land on freehold basis, at village Wazirabad in Gurgaon, for setting up of a recreation and leisure project comprising commercial and residential buildings and golf courses.

The corporation reinvited the bids after the sole bidder at that time — — pointed out certain difficulties in project implementation.

In the second round of bidding, Unitech was disqualified as its partner was found ineligible for developing the project, while the bid of the third party did not qualify as the net worth of the Malaysia-based company Country Heights was less than the required amount of Rs 500 crore.

First Published: Fri, August 21 2009. 00:18 IST