Indiabulls Real Estate Limited , through its wholly-owned subsidiary Yashita Buildcon Limited, has entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having leasable area of approx 2.5 lac sq ft in Gurugram.
The deal is expected to get completed in 3 to 4 months when the Occupation Certificate of the building is expected to be received.
The said building is situated at a developed prime commercial location, where many leading multi-nationals are operating in nearby vicinity. With this additional leasable area, the Company expects to enhance its annuity revenue to Rs. 1,450 crores in FY 20-21 from the rental properties portfolio of Indiabulls Real Estate Ltd.