1 Million sq ft IT Park to be purchased by CapitaLand for Rs 1,226 crore
Singaporean headquartered diversified real estate group CapitaLand's Indian arm CapitaLand India (CLINT) has agreed to acquire a 1 million square feet IT park in Bengaluru for Rs 1,226 crore.
The IT Park is located at Outer Ring Road, Bengaluru, and comprises two buildings with an aggregate net leasable area of about 1.5 million square feet. CLINT proposes to fund the development of the project and subsequently acquire a net leasable area of 1 million square feet. The remaining net leasable area of about 0.5 million sq ft will be retained by the landowners.
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