DLF selling land in Hyderabad?

Q: I heard DLF is selling land in Hyderabad. Is this true? Is there any particular reason behind this? Guys please discuss, is it smart to invest in another DLF project?

Suresh Kota, Hyderabad

29th July 2014

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Hey ive heard that they are selling it to the local builder My Home group. I think they are selling it off to reduce their outstanding debt of Rs 18,500 crores. The DLF group initially was in a debt of Rs 23,000 croroes till a few years back. Thank god that has gone down a lot. They are hoping to lower it down to Rs 17,500 crore by the end of this fiscal year. I think they started selling all their non-core assets from last years.

Govind Naidu, Hyderabad

31st July 2014

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The funny thing is that this not the land that the DLF were allotted initially when they made the investment. It was supposed to have everything, from IT parks, to residential housing, and commercial malls even. But that land technically is a heritage zone under the Archaelogical Survey of India so construction wasn’t possible there. After this came to light, DLF was assigned another 30 acre land parcel outside the heritage zone, which is the one that they are selling off now.

Ramesh Gullapalli, Hyderabad

30th July 2014

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Yeah you heard right. They are selling their land in Hyderabad. But its a 30 acre land parcel so its huge. I don’t think anyone other than major companies or big commercial enterprises will be able to buy this land. But I can still give you some information on this if you want. The total amount that the land is going for is a whopping Rs 550 crores. But then again, the land parcel size is huge. They had actually bought this land from the AP industrial infrastructure corporation (APIIC) in 2008.

Krishna Rao, Hyderabad

29th July 2014

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