Bhutani Group acquires Logix City Center in Noida for Rs.1,000-Cr

Property developer Bhutani Group has acquired Logix City Center, a 1.2 million sq ft of retail, office and hospitality asset in Noida, for close to INR 1,000 crore.In addition to the operational asset, the company will get land, which has a development potential of close to 600,000 sq ft, which may be used for a residential project. The deal involved multiple lenders. The company had earlier acquired Logix Group’s three projects in Noida.Bhutani Group had recently acquired a majority stake in WTC Noida, a company licensed to develop 13 World Trade Centers across India, in a revenue-sharing deal that will ensure the completion of stalled projects.