[INDIA REAL ESTATE NEWS] Good morning everyone I am Sankhraj from KI-KME. Here I have important INDIA economic news to share with you which is as mention under.
BENGALURU: Tata Realty (TRIL) and Singapore’s CapitaLand have emerged as the main bidders for the 25-acre land parcel in the city that belongs to carbon and graphite electrodes maker Graphite India, according to people familiar with the matter.
The deal, valued at about Rs 800 crore or Rs 30 crore per acre, will be a big boost for either of the companies as both are looking to scale up their presence in India’s biggest commercial office market.
TRIL said last year it will invest about Rs 1,400 crore to build IT parks of about 12 million sqft across Bengaluru, Pune and Chennai. CapitaLand, which has a substantial presence in retail, hospitality and lodging segments in China as well, is looking at raising its India holding to 40 million sqft, from 17.4 million now, in the next five years.
The land, located in Brookfield, is adjacent to Whitefield.