Hiranandani real-estate at Powai to get sold for $1 Billion
Hiranandani real-estate at Powai to get sold for $1 Billion

The largest commercial sale of the city Mumbai is about to get concluded, as more and more foreign investors seem to be interested in the Indian real-estate.  Canada’s Brookfield Asset Management has bid to buy one of the most aspiring and big prime real-estate project by the Hiranandani Group for $1 billion or Rs.6,700 crore, according to a top official of the Indian group, located in Powai, Mumbai .

This is one of the largest real-estate deals in India. And it will take about 5-6 months more to conclude. As the deal was in process from June this year, showing the interest of foreign traders to invest in India, contenders like Brookfield Asset Management and GIC, the Singapore government's sovereign wealth fund. GIC has reportedly withdrawn from their bidding.

 The deal size will increase with time and more foreign money will flow in as earlier we used to sell land parcels and now we are selling ready commercial assets,” said Shobhit Agarwal, MD Capital Markets & International Director, JLL India told The Hindu. 

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