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DLF s prestigious Bidadi venture in dilemma

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Already there is anguish in the country’s realty companies cash trap, there is still more to come in their way. As per to the sources saying at the www.propertykhazana.com, there is a problem fermenting for the country’s realty player DLF, in its striving venture at Bidadi near Bengaluru, about 10,000 acres New Bangalore venture at Bidadi in Karnataka was thought that it will be the landmark, but now its like it is all set to vanish. This venture is a JV among DLF and Dubai based Limitless which was proclaimed in 2007 and has been stopped for now and Rs. 60,000 Crores of investment has gone vain. Limitless and DLF had won the bid to improve the Bidadi surroundings in October 2007 and as stated in the contract, Govt. is in charge for the property acquirement.
Lamentably, even after 14-15 months, the property acquirement did not proceed; hence, Limitless and DLF have informed the Govt. for rearranging their position. But, Limitless stayed positive about India as a future market and carried on to search possible chances there and Limitless Holdings is possessed by Dubai World Group – one of the biggest modified business units in Dubai. Executive Vice-Chairman at Almondz Global Securities said to the www.propertykhazana.com that, “Lots of ventures for which conglomerates had forcefully bid in the last are not that possible now and many conglomerates are thinking to come out from there.”
Source: NBTVLIVE

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