DLF Acquired Office Spaces worth Rs. 81.04 cr in Gurugram

One of the top realty players of India DLF has invested a lump sum amount of Rs. 81.04crore to purchase 31,254square feet of office space in Gurugram. According to the sources, the company has purchased this from a non-resident Indian (NRI). The office space is located at Two Horizon Center in sector 43 in Gurugram. The deal was registered on August 17, 2023, according to the documents.

After completion, the office will be one of the costliest business parks of Gurugram. The buyer of the deal DLF has paid a stamp duty of Rs. 5.67 crore for this.Documents are revealing that, the space was owned by an NRI Investor, who had purchased the same property from DLF in July 2018, and thereafter had leased the space to WeWork India Management Private Ltd in September 2018. 

Earlier in 2021 DLF, repurchased Hines for Rs. 780 crore. Hines had a 51.8 per cent stake in one tower. DLF and its family members currently hold 60 per cent of the entire Horizon Centre. Mohan Exports had earlier acquired 27,000 sq ft in the same complex from Hero Cycles for Rs. 80.66 crore.

Accoding to the market report, the demand for office space in the top six Indian cities in the first nine months of 2023 was 4.5 per cent lower than 39.8 msf in the same period last year. In the list, Bengaluru and Delhi have taken the front seat, accounting for nearly half of India's total demand for office space till September. It is followed by the southern cities of Bengaluru, Hyderabad and Chennai, those accounted for about 57 per cent of the demand till September this year.