Realty major DLF said it has transferred shopping mall in Noida, Uttar Pradesh, to its subsidiary firm for Rs 2,950 crore, as part of efforts to settle dues of its joint venture firm with GIC.
DLF has to pay Rs 8,700 crore to the DLF Cyber City Developers Ltd (DCCDL), which is a joint venture firm of DLF and Singapore’s sovereign wealth fund GIC. It wants to settle these dues by September this year through transfer of rental assets and land parcels.