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Ansal Properties & Infrastructure to sell 66 percent stake in IT SEZ project

Thursday, 31 Dec 2020
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Realty firm Ansal Properties & Infrastructure has agreed to sell its entire 66.24 percent stake in IT SEZ in Greater Noida, Uttar Pradesh, to Migsun Group.

Ansal Properties & Infrastructure has entered into an agreement to sell its entire shareholding of 66.24 percent held in its subsidiary firm Ansal IT City and Parks Ltd, which owns IT Park of 37.5 acre of land at Greater Noida to Mahaluxmi Infrahome, part of Migsun Group.

The deal is subject to the approval of regulatory authorities of SEZ, the Greater Noida Industrial Development Authority, and the Ministry of Commerce and Industry.

Migsun Group now plans to develop the 37.5 acre mixed-use project. The company will develop office, retail and industrial spaces in this project.

Migsun Group is currently executing 16 projects, both residential and commercial, in various parts of Delhi NCR.

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