DLF is set to pullout from India’s largest Public-Private-Partnership

Posted on September 2, 2008. Filed under: Business | Tags: , , , , , , , , , , , , , , , , , , , |

DLF-Largest Estate Developer in India

DLF-Largest Estate Developer in India

The real estate major DLF has threatened to pull out of the Rs 330,000 million project in Dankuni since no progress has been made in the case for months and the company is yet to get the possession of the land. West Bengal State Urban development minister Asok Bhattacharya said “The project is not making any headway and DLF is telling us they will pull out if the situation continues.” The Dankuni township is one of the largest real estate projects in the country, covering over 4840 acres to be built through Public-Private-Partnership over a period of 10 years. It is the largest Public-Private-Partnership in India. DLF has already paid Rs 2700 million in advance to West Bengal State Government, which is supposed to hand over the land after procuring it. While negotiations with landowners began a year ago, consent has been obtained for only 20 acres, State government officials are now trying to convince DLF that the imbroglio in Singur will soon be over and thereafter 4840 acres in Dankuni can be acquired smoothly.




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