 "Real estate, Property prices, GST")
Singaporean sovereign fund GIC, CapitaLand (from the same country), and others are in separate talks with Hines Real Estate — the Indian arm of US-based investment firm Hines — for a forward purchase agreement of commercial property in the Kanjurmarg area of Mumbai. The deal size is expected to be around Rs 2,000 crore.
In a forward purchase agreement, a buyer pays an advance to the seller to buy property at a later date. The property, spread over 4 acres, has a development potential of 1.3 million square feet (sq ft). It will be the first big commercial property deal of
