Bangalore: GMR Infra, a publicly held firm that manages the Delhi international airport, is set to kickstart the second phase of monetisation of its 230-acre land parcel near the airport. The price it might get for its land is estimated to tip over Rs 100 crore per acre and go in the range of Rs 105-110 crore an acre.
In the first phase of monetisation in 2009, GMR had sold 45 acres of the parcel at Rs 75-90 crore an acre to various hospitality majors. This time, it could try to get approvals for also selling to other players besides hospitality ones.
"Delhi International Airport Ltd, or DIAL (a joint venture among GMR, the Airports Authority of India, and Fraport AG & Eraman Malaysia) successfully monetised the first phase of commercial property - 14 hotels spread over 45 acres. So far, four hotels are operational and have good occupancy. Most others are near completion. The Delhi airport is being developed through a long-term master plan and any further monetisation of land will be based on the provisions of the master plan. The next phase is likely to commence during the current financial year," a spokesperson for GMR Infra said.
15/07/14 Raghuvir Badrinath/Business Standard
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In the first phase of monetisation in 2009, GMR had sold 45 acres of the parcel at Rs 75-90 crore an acre to various hospitality majors. This time, it could try to get approvals for also selling to other players besides hospitality ones.
"Delhi International Airport Ltd, or DIAL (a joint venture among GMR, the Airports Authority of India, and Fraport AG & Eraman Malaysia) successfully monetised the first phase of commercial property - 14 hotels spread over 45 acres. So far, four hotels are operational and have good occupancy. Most others are near completion. The Delhi airport is being developed through a long-term master plan and any further monetisation of land will be based on the provisions of the master plan. The next phase is likely to commence during the current financial year," a spokesperson for GMR Infra said.
15/07/14 Raghuvir Badrinath/Business Standard
