DLF is set to buy about 38 acres of land in New Delhi for more than Rs 1600 crore. The deal to buy Swatantra Bharat Mills from DCM Shriram Consolidated, about 4-5 km from Delhi's central business district, will be the largest private sector land deal in the country.
The real-estate developer has already bought about 25 acres of land adjacent to the plot and may invest Rs 11000-12000 crore to develop an integrated township.
Indian Realty stocks have taken a severe beating along with global indices which are bleeding due to American Mortgage crisis. IVR Prime Urban Developers, another Shady Real Estate Developer from Hyderabad, which looted retail investors money at Rs 550 / share is now quoting at mere Rs 410. Orbit Corp, IndiaBulls Real Estate, Sobha Developers, GMR Infra all the stocks have lost more than 6% in today's trading.
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