BPTP Group won India's largest land deal for Rs 50B (US$1.2B) for a 95 acre commercial development at sector 94 along Noida and the Greater Noida Expressway. The company is planning to develop a big mixed use complex for banks in the area.
As per the company's development plans of 8.5 mm sq ft, it will have to achieve an average monthly rental of Rs 115 psf for sustaining project IRR of 17%. This assumption is at a significant premium to prevailing rentals of Rs 50-55 psf in the area (for commercial). Retail rents are high in the micro market -upwards of Rs 150 psf going to above Rs 250psf. (Source C&W, JLL).
DLF bought 38 acres of land at Swatantra Bharat Mills from DCM Shriram Consolidated Ltd. The plot is located at Shivajimarg Road in West Delhi at a distance of just about 4-5 km from the Delhi’s CBD, Connaught Place. The company already owns 27 acres of land in the same location and plans to develop integrated township on the site of about 10 msf.
As per the company's development plans, the developer will have to achieve an average selling price of Rs 9,000 psf for sustaining a project IRR of 20%.
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