Parsvnath Developers will sell its 1.2-acre plot in the heart of Delhi, near Connaught Place, hoping to raise Rs 700-800 cr for paring its debt.
The real estate business in India has grown manifold in recent times, and companies have also increased their scale of operations.
At least a fourth of office space lies vacant across the country, with supply exceeding demand, especially, in the IT sector over the past two years.
Real estate developer Ansal Properties and Infrastructure has sold 5.19 million sq ft of real estate space in the October-December quarter of 2011 for a total value of Rs 605.2 crore.
Even with a slowing economy and global uncertainty, the total absorption of commercial office space in India has increased by 8% in 2011 to reach 35.5 million sq ft.
Real estate developer BPTP is buying back Merrill Lynch's 49% stake in its Crest office building in Gurgaon for Rs 180 crore.
Kotak Realty Fund plans to raise $350 million, or about Rs 1,866 crore, through a foreign real estate fund that will invest primarily in residential projects.
DLF has a 67% shareholding in the joint venture company that owns the 1.8 million sq ft SEZ in Pune's Hinjewadi area.
A subsidiary of Godrej Properties will develop a residential project in Gurgaon's sector 104. This project is close to the proposed Dwarka-Manesar expressway.
Kotak Realty Fund is investing Rs 170 crore in BPTP's residential township project Astaire Gardens in Sector-70A of Gurgaon.
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