Real Estate

Real Estate Transactions

Realtor AIPL buys 43-acre plot in Gurugram through DRT; gives exit to 6 banks

Economic Times  

Gurugram-based realty developer AIPL has bought a 43-acre plot for INR 1,000 crore through the debt recovery tribunal (DRT), giving exit to six banks.The acquisition is part of an 80-acre plot in Sector 103 on the Dwarka Expressway in Gurugram. AIPL is in the process of adding another 20 acres to the existing land bank.AIPL has already launched the first phase of the project, spread across 5.14 acres of the larger multi-phase AIPL Lake City development. The project has a total estimated revenue potential of INR 1,500 crore. The entire township has a revenue potential of more than INR 20,000 crore.