DLF in talks to sell Mumbai land: Report

Apr 27, 2012 |

Reuters

mumbai

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DLF, India's top-listed realtor, is in talks with three Mumbai-based real estate companies -- Lodha Developers, Runwal Group and Sheth Creators, to sell a piece of land in central Mumbai, the Business Standard reported on Friday.

While DLF is seeking a valuation of Rs 30 billion for the 6.8 hectare property, the potential buyers are negotiating at between Rs 20 billion and Rs 22 billion, the newspaper said, citing an unnamed person.

"Even as all the parties had talks with DLF, the developer is yet to make up its mind, as it is expecting higher valuations," it quoted the person as saying.

DLF bought the land for Rs 7.02 billion in 2005 from state-owned National Textile Corporation.

Abhisheck Lodha, managing director of Lodha Developers, said the company was not in talks with DLF while an executive at Runwal group also responded in the negative, the paper said.

DLF does not comment on market speculation, the company's spokesman told Reuters.

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