New Delhi: L&T Realty Developers (LTRDL), a wholly-owned subsidiary of Larsen & Toubro (L&T), has acquired a 2.5-acre land parcel in central Delhi for nearly ₹200 crore, two people aware of the development said.
The Mumbai-based developer, which has been expanding its presence in the National Capital Region through acquisitions in Noida and Gurugram, plans to develop a boutique luxury residential project on the site.
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The acquisition follows L&T Realty Properties (LTRPL) purchase of a 100% stake in International Green Scapes (IGSL), which gives it access to a 20-acre land parcel in Gurugram with a development potential of about 3.6 million sq ft.
“L&T has its office at the site and the structure will be demolished for the residential project, which will be launched following the conversions of land and necessary approvals,” said one person aware of the deal.