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Manjola Infrastructure will acquire commercial building in Gurugram
Posted on 9th Apr 2018 14:36:57 in Developers
Manjola Infrastructure, a wholly owned subsidiary of Indiabulls Real Estate has entered into an agreement to acquire a commercial building at Udyog Vihar, Phase IV in Gurugram.
The deal for the commercial building with leasable area of around 2.5 lakh sq ft is likely to get completed in 3 to 4 months when the Occupation Certificate (OC) of this building is expected to be received, the developer said in a regulatory filing. The company did not disclose the consideration for this transaction.
Along with the additional leasable area, the company aims to increase its annuity revenue to Rs 1,547 crores in FY20-21 through the rental properties portfolio of the company.