For a good deal: Corporates selling surplus assets
Almost four months after the government’s demonetisation move, many multinational companies are looking at selling assets they have owned for several years or perhaps acquired by way of mergers and acquisitions.
This week an international real estate consultancy advertised for the sale of prime residential flats in Mumbai and a bungalow in Delhi, both of which are owned by multinational companies. The first advertised the sale of a 4BHk bungalow at Sardar Patel Marg in Delhi and the second included three apartments in south Mumbai.
“Some motivated sellers in today’s property market include financial institutions selling off properties that are either nonperforming assets or properties owned by big corporate acquired by way of acquisitions and mergers. These are all part of surplus assets owned by them. Selling properties for these companies is more of a business decision. Most of them are available for realistic prices, ”say real estate experts.
“We have received more than 40 serious queries. Buyers who were earlier only window shopping are now serious about making a purchase. For the wellheeled end-buyer or investor who has knowledge of the market, there is still a lot of interest in investing in real estate,” says Shveta Jain, managing director - Residential Services at Cushman & Wakefield. Last year, a leading corporate giant had sold its iconic south Mumbai guest house Alhambra, which was built by the sultan of Darbhanga, for around ` 170 crore.