GOCL Corporation Ltd. to Monetize 38-Acre Land in Bengaluru for Rs. 815 Crores

GOCL Corporation Ltd. has approved the early monetization of its 38-acre land in Yelahanka, Bengaluru, known as the ‘ecopolis’ project. The land, which is under a joint development agreement with Hinduja Realty Ventures Limited, is in the process of getting de-notified from the SEZ purview. The proposed monetization will be done by selling the entire land and buildings to one of the country’s top industrial houses for approximately Rs. 2,261 crores. On completion of the proposed sale transaction, the Company will be entitled to a consideration of approximately Rs. 815 crores. The transaction is expected to be completed in about 6 months.