When a realty company runs out of money or needs sufficient amount of money then it has to gather money by selling some of its assets. The same step has been chosen by DLF while accumulating Rs 1,000 by selling its land in some major cities in India. It is reported that the company sold lands in cities like Mumbai, Gangtok and NCR. In addition, sources have told that the company has also sold off a hotel project in Delhi as well as another project in Gangtok.
It is not that DLF is the only Indian realty company which is trying hard to make the cash ready, there are other companies which have tighten their belts to sell off their assets in various locations in India for clearing off their heap of debts. Unitech, a rival of DLF has also sold its hotel in Gurgaon and a hotel in Saket in the last few months. Of course, the recession has been a great hit for Indian property market and the crunch of money has forced many reputed realty developers to sell off their lands at a range of lower price.
It is not that DLF is the only Indian realty company which is trying hard to make the cash ready, there are other companies which have tighten their belts to sell off their assets in various locations in India for clearing off their heap of debts. Unitech, a rival of DLF has also sold its hotel in Gurgaon and a hotel in Saket in the last few months. Of course, the recession has been a great hit for Indian property market and the crunch of money has forced many reputed realty developers to sell off their lands at a range of lower price.
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