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Tuesday, October 02, 2007

DNA - Money - DLF to create new Bangalore - Daily News & Analysis

DNA - Money - DLF to create new Bangalore - Daily News & Analysis: "NEW DELHI: DLF, the country's biggest realty firm, plans to develop a huge integrated township spread over 9,178 acre on the outskirts of Bangalore at an estimated investment of up to Rs 60,000 crore over the next seven years. The Karnataka government awarded the project to develop Bidadi Knowledge City to DLF yesterday.

According to sources close to development, DLF would develop the project in a 50:50 joint venture with Dubai-based Limitless Holdings, a sister company of Nakheel. DLF is developing two townships in Gurgaon and Maharashtra of 20,000 acre each with Nakheel.

The total cost of project is estimated at between Rs 50,000-60,000 crore, including Rs 3,600 crore for the land, the sources said, adding that the investment would come from internal resources of the two partners and private equity at project-level."
Ganesh Srinivasan
ganeshsrinivasa DLF to create new Bangalore: DLF, the country's biggest realty firm, plans to develop a huge inte..
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