Ansal Properties & Infra to sell 66% stake in IT SEZ project

Ansal Properties & Infra to sell 66% stake in IT SEZ project

Realty firm Ansal Properties & Infrastructure Ltd has planned to sell its entire 66.24 per cent stake in IT SEZ in Greater Noida to Migsun group. Ansal Properties said the company has entered into an agreement to sell its entire shareholding of 66.24 per cent held in its subsidiary firm Ansal IT City and Parks Ltd, which owns IT Park of 37.5 acres of land at Greater Noida to Mahaluxmi Infrahome, part of Migsun Group. The deal is subject to the approval of regulatory authorities of SEZ, Greater Noida Industrial Development Authority, and the Ministry of Commerce. Separately, Migsun group has acquired an entire 100 per stake in this project from Ansal Properties and HDFC, as per reports. Migsun group now plans to develop the 37.5-acre mixed-use project.

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