Lodha in talks to buy DLF's Mumbai land: Sources

Lodha Group is in advanced talks to buy a plot of land in Mumbai from DLF, the country's largest listed real estate developer, for about $500 million, two sources with direct knowledge of the situation said.

May 18, 2012 / 08:50 IST

Lodha Group is in advanced talks to buy a plot of land in Mumbai from DLF, the country's largest listed real estate developer, for about USD 500 million, two sources with direct knowledge of the situation said.

Sale of the 17-acre plot is seen as part of DLF's plan to sell some of its assets to pare its debt of about USD 4 billion. DLF bought the land for about Rs 700 crore in 2005.

Mumbai-based developer Lodha has emerged as the front-runner for the land parcel in central Mumbai, said the sources, declining to be named as the matter is not public yet.

DLF declined to comment, while a spokesman for Lodha said the company was not in talks with DLF.

first published: May 17, 2012 07:02 pm

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