DLF has sold its 17.5-acre plot at Lower Parel in Mumbai to Lodha Developers for Rs Rs27.50bn,according to reports.
Reports stated that the deal involved payment of the first instalment of Rs 5bn on August 13 and final payment of Rs 22.50bn in October.
In June 2005, DLF had bought the land in Mumbai in an auction from National Textile Corporation for Rs 7.02bn, report says.
The deal would help the company in bringing down its consolidated debt significantly by the end of current fiscal.