123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

Dlf's 350-acre Land Allotment Canceled

Profile Picture
By Author: Vinay Kumar
Total Articles: 56
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

DLF, a realty major has suffered a major jolt as the honorable Punjab and Haryana High Court has canceled allotment of 350 acres of land. The real estate builder had planned to come up with luxury premium Gurgaon flats in Gurgaon area. The canceled land was positioned near the prominent Golf Course Road in Gurgaon.The Haryana state government had made the land allotment of 350 acres to DLF through an bidding process.


DLF had bought the Gurgoan Land in an auction process for a whopping amount of Rs 1,750 crore in the year 2009-10. The land allotment was challenged by the local farmers and the village panchayat in the year 2011, they had challenged the auction process. In 2012, the honorable high court had asked DLF to stop construction or any other process on the land the court had also forbidden the company from creating or transferring any third-party rights of the land.


The canceled plot is located just behind DLF Phase-V. Gurgaon Sectors 42, 53, 54, 55 and 56 also lie in close proximity of the land. DLF had planned to come up with premium luxury Gurgaon properties in the area. The Gurgoan ...
... property would have included a luxurious amenities such as golf course, a low-rise residential Gurgaon flats as well as commercial properties like hotels and a sports complex, convention centre, service apartments, and food court.


DLF has already build several Luxury and premium Gurgaon properties. Many of the luxury flats in Gurgaon built by the real estate player are located along the Golf Course road. Some of the popular luxury Gurgoan properties developed by DLF are The Crest, The Camellias, The Aralias and The Magnolias. The realty major is also building another luxury property that will be priced around twenty five thousand per square feet.


According to DLF the land was acquired by them after two rounds of international competitive bidding. The realty major had come up as the sole bidder for the land project as the bids of other real estate developers such as Unitech and a consortium based in Malaysia comprising Country Heights, Rajarhat IT Park and Country Club of South Africa — were not able to qualify on technical grounds. DLF, had bidded for the land at a price of Rs 12,000 per sq meter. The reserve price kept for the land was Rs 11,978 per sq metre. Haryana State Industrial and Infrastructure Development Corporation had also issued a letter of acceptance after the auction process was complete.


Makaan.com is a property search site that lists flats in Gurgaon and Gurgaon properties. The property site offers numerous options for taking flat on rent and India real estate.

Total Views: 810Word Count: 445See All articles From Author

Add Comment

Real Estate and Foreclosure Articles

1. Top Advantages Of Applying Asphalt Drum Mix Plant In Building Construction
Author: Gopesh Thakkar

2. The Office Address: Smart Workspaces That Evolve With You
Author: The Office Address

3. Simchah Estates' 3.5 Bhk Luxury Apartments In Kokapet
Author: Simchah estates

4. Top 7 Reasons To Hire An Industrial Land Consultant In Sanand
Author: Ashishestate

5. Bridging Borders, Building Markets: How Pakistani Call Centers Fuel Uk Real Estate Growth
Author: Shan Tait

6. Budget Tips: How To Save Money On Serviced Apartments In Noida
Author: Adopremium

7. Investing In Flats For Sale In Bangalore Tips And Trends
Author: Jason

8. Expert Guide: Industrial Land Consultant In Ahmedabad For Investors
Author: Divyaestate

9. Ahmedabad’s Booming Industry: Why You Need An Industrial Land Broker
Author: Divyaestate

10. Luxury Plotting Projects: Where Elegance Meets Opportunity
Author: codename oxygen

11. Why Should You Hire A Professional Garage Door Service For Your Commercial Property
Author: Door-Tech Garage Doors Services

12. Avoid Legal Hassles – Sell My House Fast In Sunnyvale Ca
Author: Mike

13. Bankruptcy Looming? Sell My House Fast In Sunnyvale Ca
Author: Mike

14. Death In The Family? Sell My House Fast In Sunnyvale Ca With Support
Author: Mike

15. Best Second Home Projects In Konkan For Family Vacations
Author: codename oxygen

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: