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DLF opts out of Bidadi Satellite Township Project

Tuesday, 05 May 2009
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DLF has reportedly taken an exit from the Bangalore Metropolitan Region Development Authority's (BMRDA) 9,300 acre Bidadi Satellite Township Project near Bengaluru citing poor demand and lack of investors in the realty sector.

The BMRDA has reportedly returned Rs 400 crore to DLF, the company's investment on the township project. In October 2007, DLF emerged as the sole bidder for the township project named 'Knowledge Park'. DLF had formed an equal JV with the Dubai-based Limitless Holdings for the project.

Also See:

DLF may withdraw from Infopark project (17-Apr-09)

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