As per to the source saying at the www.propertykhazana.com Citigroup Property Investors is pouring Rs. 640 Crores in 4 SEZs developed by7 Delhi based realty developer BPTP picking up a 40% share in SPV. This is its 2nd main investment in BPTP after newly picked 5.89% for Rs. 322.50 Crores and it has allocated Rs. 2,000 Crores for investing in the IPM.
The source further added that, BPTP is developing 25 acre SEZ in Noida, 100 acres SEZ in Greater Noida, 54 acre SEZ in Faridabad and 27 acre SEZ in Gurgaon with the total dwell in of 20 Million Sq.ft. Company is developing 6 Million Sq.ft of IT space in the 1st phase about two and half years and company’s MD Kabul Chawla was not reachable for the clarifications. BPTP was in the headlines when it grabbed the contract to develop 94 acres of commercial land at Noida for a whopping Rs. 5,006 Crores whipping land chief’s DLF and Omaxe.
BPTP arm presented Rs. 130,207 per Sq.Mtrs of property and it is developing a top-notch business centre which comprises an office complex, 5 star hotel and malls. BPTP also purchased 30 acres plot at Knowledge City in Hyderabad for Rs. 666 Crores. It also signed a 51:49 JV deal with international investor Merrill Lynch to develop a high-tech IT park in Gurgaon possession area of 6.25 Lakhs Sq.ft and Merrill has invested Rs. 112 Crores in the JV. Company has 10 enduring venture extended across 34.66 Million Sq.ft and 53 ventures with area of 74.36 Million Sq.ft.
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