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Shortage of funds hits DIAL project

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All over the reality circuit there is a huge fund crisis among the realty developers for the undertaken projects. This fund short fall has now hit the Delhi International Airport Pvt Ltd’s (DIAL) for the upcoming air port project. According to the sources of www.propertykhazna.com this Rs. 1,500 crore fund is now running short of financier to carry on the further process of construction. On a short note with the top order of the Airports Authority of India who possesses 26 per cent of stake in the DIAL project has revealed that the partners are making decision to liquidity the shares to cope up the anxiety of fund raising for their current project.
Source of www.propertykhazana.com also reveals that the aviation ministry has suggested collecting the previous debts from the various parties, but there was a second thought from the advisory team of the project to look for the development fees since the UDF will not be able to make all these amendments alone.
With this proportion now Delhi International Airport Pvt. Ltd have to share its stake of 46 percent with the AAI group and the another European associate Fraport will be benefited with 3 per cent of its share. The remaining share of 51 percent will be subjected to 30 percent tax and hence the total fraction left for DIAL will be just 36 percent. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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