DLF to buy DSCLs SBM property for Rs 1.6 billion

DLF is close on finalising the real estate deal of Swatantra Bharat Mills (SBM) with DCM Shriram Consolidated (DSCL) for over Rs 1.6 billion, reports Economic Times.

After this deal of of acquiring DSCL`s SBM property stretching over 38 acres, DLF will have a massive 65-acre landbank in Delhi. The deal which is set to be the largest private sector land deal in the country may also be the first integrated township of its kind, combining an IT SEZ with a massive housing supply for those working in the SEZ.

Shares of the company closed up Rs 6.40, or 1.09%, at Rs 603.30. The total volume of shares traded at the BSE was 1,360,074. (Tuesday)