Sobha scraps land sale deal

Sobha Developers has called off its negotiations with Shriram Properties for the sale of about 400 acre in four cities following differences over price. Some of the lands for sale included 100 acre in Pune, 10.8 acre in Bengaluru, 330 acre in Kochi. The total estimate of these lands could be between Rs 600 and Rs 800 crore. While the deal would have generated cash for Sobha to develop its projects, it would have also helped Shriram Properties scale up its size in the residential market. Contact: Sobha Developers Ltd. Tel: 080-4349 0000. Fax: 080- 2212 0852. E-mail: marketing@sobha. co.in Website: www.sobhadevelopers.com