DLF Limited Sells Kolkata IT SEZ Tech Park to Srijan Group for Rs 693 Crore
DLF Limited has sold its Kolkata IT SEZ tech park to the Srijan Group for Rs 693 crore through a slump sale, marking a significant transaction in the real estate sector.
Real EstateDlf LimitedSrijan GroupTech ParkKolkata It SezReal Estate NewsApr 16, 2025
The Kolkata IT SEZ tech park is a prominent property located in the heart of the city’s IT hub. It spans over 8.23 acres and includes three office blocks with a total built-up area of approximately 9.5 lakh square feet. The tech park is home to several leading IT and BPO companies, making it a valuable asset in the real estate market.
DLF Limited, founded in 1993, is a diversified real estate company with a strong presence across residential, commercial, and retail segments. The company has a vast portfolio of properties and is known for its high-quality developments and customer-centric approach. The sale of the Kolkata IT SEZ tech park aligns with DLF’s strategic initiative to focus on core assets and improve its financial health.
The Srijan Group, established in 1990, is a respected name in the Indian real estate and infrastructure sector. With a diverse portfolio that includes residential, commercial, and industrial projects, the group has a reputation for delivering world-class developments. The acquisition of the Kolkata IT SEZ tech park is expected to bolster the Srijan Group’s presence in the eastern region and enhance its portfolio of premium commercial properties.
The transaction is subject to regulatory approvals and is expected to be completed within the next few months. This deal not only highlights the strong demand for commercial real estate in Kolkata but also underscores the increasing trend of asset sales in the sector. Real estate experts believe that such transactions will continue to gain momentum as companies look to streamline their portfolios and capitalize on market opportunities.
The sale of the Kolkata IT SEZ tech park to the Srijan Group is a significant milestone for both DLF and the real estate industry. It demonstrates the resilience and growth potential of the commercial real estate market, particularly in the IT and tech sectors. As the digital transformation accelerates, the demand for specialized infrastructure like tech parks is expected to rise, driving further investment and development in the real estate sector.
For DLF Limited, this sale is part of a broader strategy to optimize its asset base and focus on high-growth areas. The company is committed to delivering value to its stakeholders through strategic decisions and innovative approaches. The proceeds from this sale will be used to reduce debt and invest in new opportunities, strengthening DLF’s position in the competitive real estate landscape.
In conclusion, the sale of the Kolkata IT SEZ tech park to the Srijan Group for Rs 693 crore is a testament to the resilience and potential of the Indian real estate market. It reflects the strategic vision of both DLF and the Srijan Group, as they navigate the evolving market dynamics and position themselves for long-term success. The deal is expected to have a positive impact on the local economy and contribute to the growth of the IT and tech sectors in Kolkata.
Frequently Asked Questions
What is a slump sale?
A slump sale is a type of transaction where the entire business or a significant part of it is sold as a going concern, rather than selling individual assets. In this case, DLF Limited sold the entire Kolkata IT SEZ tech park to the Srijan Group, including all its assets and liabilities.
What is the size of the Kolkata IT SEZ tech park?
The Kolkata IT SEZ tech park spans over 8.23 acres and includes three office blocks with a total built-up area of approximately 9.5 lakh square feet.
Who is DLF Limited?
DLF Limited is one of India’s leading real estate developers, founded in 1993. It has a diversified portfolio across residential, commercial, and retail segments and is known for high-quality developments and a customer-centric approach.
What is the Srijan Group?
The Srijan Group is a respected real estate and infrastructure company established in 1990. It has a diverse portfolio that includes residential, commercial, and industrial projects, and is known for delivering world-class developments.
What is the significance of this sale for the real estate market?
The sale of the Kolkata IT SEZ tech park to the Srijan Group for Rs 693 crore highlights the strong demand for commercial real estate, particularly in the IT and tech sectors. It reflects the strategic vision of both companies and the growing trend of asset optimization in the real estate industry.
Related News Articles
SM REITs Set to Revolutionize India's Commercial Real Estate Market
India's commercial real estate market is poised for significant growth, with SM REITs expected to play a key role. Cities like Mumbai, Delhi-NCR, and Bengaluru are leading the charge, with additional cities like Pune, Kolkata, and Chennai also contributin
Casagrand's Flexible Home Buying Plan: Pay 10% Now, Rest Later
Casagrand, a leading real estate developer, has introduced a stress-free payment plan for homebuyers. With this scheme, buyers can pay just 10% upfront and the rest later, making homeownership more accessible and affordable. This innovative offering is pa
Housing Sales to Drop 21% in Q4 2023 for Top 9 Cities; NCR Sees 25% Increase in Demand
Real estate analytics firm PropEquity has released the latest sales figures for India's top nine housing markets, including Delhi-NCR, Mumbai, and Navi Mumbai. The data indicates a 21% decline in housing sales for the December quarter, while the NCR regio
MahaRERA Aims to Resolve All Pending Recovery Warrants Within Three Months
The Maharashtra government has set a stringent deadline of three months to clear all pending recovery warrants issued by MahaRERA, the Maharashtra Real Estate Regulatory Authority. This move is expected to bring significant relief to homebuyers and stakeh
Maharashtra Introduces New Tax Hikes on CNG Vehicles and Select EVs
The Maharashtra Budget proposes to increase motor tax on CNG cars by 1% and introduce an additional 6% tax on select electric vehicles (EVs). This move is expected to impact both the automotive and real estate sectors.
Real Estate Sector Expectations from Union Budget 2024-25
Realtors want industry status, removal of capital gains tax and GST rationalization to boost real estate transactions and contribute to India's economic growth.