Real Estate

Real Estate Transactions

Tulip Infratech acquires 19-acre project in Gurugram from Vipul; to invest Rs.5,500-Cr

Hindustan Times  

Tulip Infratech has acquired a 19-acre stalled project, located on Golf Course Road, Gurugram, from fellow realty firm Vipul Ltd. Tulip will invest INR 5,500 crore over the next eight years to develop a premium mixed-use project The company has launched its housing project Tulip Monsella, comprising 1,100 flats, at INR 20,000 per square foot. It will also build 250 units for economically weaker sections. The total sales realisation from this project is estimated at INR 7,000 crore. The company has taken over debt of around INR 450 crore from Vipul Ltd. PNB Housing Finance Ltd has restructured the debt.