BPTP bags India's Largest Land Deal
BPTP Limited has bagged the country’s largest land deal worth Rs.
5006 crore for 95 acres of prime commercial land alongSector 94, Noida. The
consortium lead by BPTP offered Rs. 130,207 per sq. metre of land which was
higher than the offer made by prominent players in Indian real estate
industry. The deal is seen as a major leap for BPTP, a closely held firm
promoted by Mr. Kabul Chawla. The company has recently sold 5% stake to
Citigroup last year.
The 95 acre commercial complex the Greater Noida Expressway will cater to a large number of people through the development of offices, retail and hotels. It will have a total covered area of 25 percent, with a floor area ratio of 2.0 . Uttar Pradesh Industrial Consultants (UPICO) was the consultants appointed by the authority for the selection of the developers and other matters.
Mr. Kabul Chawla, Managing Director, BPTP Limited said, “We are delighted to have won this important bid. We are excited about the project and we will explore such possibilities as and when the opportunities arrives. We will make this commercial complex a world class destination. The company is also in talk with the renowned architect of the world like Norman Foster, for Hotels, Commercial complex and financial hubs ”.
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Mar 11th, 2008