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DLF sells its Mumbai property

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On account of recent slow down in the market the realty giant DLF has recently made a sale of its Mumbai property to cover up the financial stability in the market. As per the new sources revealed at www.propertykhazana.com DLF has sold around 66 percent of its stake of Hindoostan Spinning and Weaving mill at Mumbai to a serial entrepreneur of Chennai for a whooping sum of Rs 310 crore, which was earlier in the joint possession of DLF with the Akruti Builder of Mumbai.
On a further investigation of the matter on behalf of www.propertykhazana.com it was found that the said serial entrepreneur of Chennai is a NRI. The deal is almost completed with just a few complications from the Akruti group as the builder has not yet confirmed their status. DLF here has the share of 5 acres and Akruti holds 3 acres and is planning to sell some other buyers with better valuation.
Cash is the most important fact of the hour for both the teams and hence DLF also has insisted to sell the Akruti part to the same buyer. An executive of DLF states that “the entire portion of 8 acres is around Rs 450 crores and we expect a kind cooperation from the Akruti for a lucrative deal with the buyer”. The location is quite near to famous Siddhivinayak temple at pravadevi which was bought earlier for Rs 350 crore in 2007. Follow www.propertykhazana.com for more updates.
Source: NBTVLIVE

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