DLF Sells Kolkata IT SEZ to Srijan Group for Rs 693 Crore

DLF has sold its IT-ITeS SEZ project in Kolkata to Srijan Group for Rs 693 crore as part of its strategy to monetize commercial assets. The sale comprises a lease area of over 10.54 lakh square feet. This move follows DLF's earlier sale of an IT park in Kolkata.

Realty giant DLF has finalized the sale of its IT-ITeS Special Economic Zone (SEZ) project in Kolkata for a sum of Rs 693 crore. This transaction, a part of DLF's broader strategy to monetize commercial holdings, involves Srijan Group acquiring DLF's stake.

In an official regulatory filing, DLF highlighted its definitive Master Framework Agreement with Srijan Realty Pvt Ltd and its subsidiaries. The deal encompasses a freehold land parcel of 25.90 acres, strategically located in Kolkata, along with the DLF Tech Park, boasting a gross leasable area exceeding 10.54 lakh square feet.

DLF's agreement with Srijan follows the previous year's sale of an IT park in Kolkata through its joint venture firm DCCDL to Primarc and RDB Group for Rs 637 crore. DLF, a major player in both residential and commercial sectors, continues its focus on asset monetization.

(With inputs from agencies.)