Top developers in Bengaluru such as Salarpuria Sattva have bid for a land parcel of 14 acres being sold by engineering and construction giant Larsen & Toubro (L&T) in the city.
The land parcel is estimated to fetch the company between Rs 8 billion and Rs 10 billion. The land has development potential of 4 million square feet, and it could become the largest land deal in south India this year.
The land is close to (Bengaluru) airport and has good development potential to build a commercial property.
L&T sold a part of the factory land in Hebbal area to Phoenix Mills-CPPIB in April for Rs 6.5 billion, and the combine is building a mall on 1 million sq ft of the plot. The rest of the land is up for sale.
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