India: Firms with Mumbai land assets struggle to find buyers

India: Firms with Mumbai land assets struggle to find buyers

Developers are not keen on shelling out funds for any outright purchase of big land parcels. Photo: Aniruddha Chowdhury/Mint

The slump in the Indian real estate market, along with legal issues and delays in regulatory approvals, has significantly impacted corporate land deals in the past one year. Companies looking to dispose of their land assets to reduce debt have either put off plans or are struggling to find the right buyers, according to property advisers, brokers and company officials.

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