Lodha, DLF ink Rs 2,725 cr Mumbai land deal

November 01, 2012 21:46

Lodha Developers today said it has completed the acquisition of 17-acre prime land in Mumbai from realty major DLF for Rs 2,725 crore -- the largest realty deal so far this year.

In August, DLF had announced sale of this land parcel to Lodha Developers for about Rs 2,700 crore, almost four times higher than the price it had paid in 2005.

India's largest real estate company DLF had bought the land from National Textile Corporation for Rs 703 crore and it decided to sell this piece of land as part of the strategy to exit from non-core business.

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