Reliance outbid real estate gaints with Rs 270 cr

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Indore, Sep 22: Mukesh Ambani-led Reliance group has outbid real estate giants DLF and Business Park Town Planner (BPTP) to bag two commercial plots for Rs 270 crore of 4 lakh square feet in tender process floated by Indore Development Authority (IDA), here last evening.

IDA Chairman Madhu Verma told that DLF offered Rs 150 crores while Delhi-based BPTP offered Rs 157 crores. The IDA Board of Governers would give formal approval to the deal in the next meeting to be held soon.

The amount raked in by the sale of these 2 plots would be spent in the development works of the city, Mr Verma added.


UNI

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