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Indiabulls Real Estate buys commercial building in Gurgaon

Press Trust of India  |  New Delhi 

Real Estate today announced that it will acquire a prime commercial building in having a leasable area of 2.5 lakh sq ft for an undisclosed amount.

In a filing, Real Estate informed that the company through is wholly-owned subsidiary entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having leasable area of approx 2.5 lakh sq ft in

"The deal is expected to get completed in three to four months when the Occupation Certificate of the building is expected to be received," the filing said.

Real Estate did not disclose the name of the seller and deal value.

This building is situated at a developed prime commercial location, where many leading multi-nationals are operating in nearby vicinity.

"With this additional leasable area, the company expects to enhance its annuity to Rs 1,450 crore in FY 20-21 from the rental properties portfolio of Estate," the filing said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 20:35 IST