Srijan group buys DLF IT Park 2 in New Town for Rs 693cr
Times of India | 17 April 2025
Kolkata: In one of the biggest commercial real estate deals in the city, Srijan Group has bought DLF IT Park 2 in New Town for Rs 693 crore.
DLF has informed about the deal in stock exchanges and later it was confirmed to TOI by Srijan director Keshav Agarwal. DLF IT Park has SEZ status and is close to Candor SEZ, he said.
Last year, Primarc and RDB Group had acquired DLF Techpark 1 in Kolkata for approximately Rs 637 crore. This included the purchase of the business undertaking, which encompassed rental, CAM, fit-out, property management and other services. The acquisition also included the immoveable property of DLF Techpark 1.
In a filing to stock exchanges, DLF said the company had entered into a definitive master framework agreement with Srijan Realty Private Limited and its subsidiary company on April 16 for sale of its IT/ITeS SEZ comprising freehold land parcel admeasuring 25.9 acres, situated in Kolkata along with constructed building namely DLF Tech Park with a gross leasable area of 10,54,357 square feet. The agreed consideration was Rs 693 crore.
"The proposed transaction is subject to certain conditions precedent, regulatory approval(s), consent(s), sanction(s), as specified in the transaction documents," it added.
According to DLF, the turnover of Kolkata IT/ITeS SEZ business proposed to be sold for FY 2023-24 was Rs 86.2 crore, which is 2.1% of its revenue. Agarwal said DLF Techpark 2 was a grade A real estate, Agarwal said. "Almost 90% of the space in this SEZ is occupied and the rental is good. It is mostly occupied by MNCs," he added.
This also marks DLF's exit from IT park business in the city.
Meanwhile, Kolkata may witness some big land deals soon. A 17-acre plot in New Town, valued at over Rs 800 crore, would be tabled for auction in 2-3 months. Another big deal in the making, earlier reported by TOI, is about the BSNL plot near Taj Bengal which is believed to be still in its preliminary phase and may take 4-5 months. It was supposed to be valued over Rs 1,900 crore.
The New Town land was first tabled for auction in March but due to problems in tender documents there was no takers. New tender documents are being prepared for a re-auction.