L&T puts office project on block in Hyderabad

L&T Infocity, a real estate development joint venture between construction and engineering giant L&T and a Andra Pradesh government agency, has put up a office building for sale in Hyderabad.

The 1,97,000 square ft infotech building in HI-TECH City has a reserve price of Rs 99 crore and will be sold through bidding process.

Since ongoing sale prices for office building are around Rs 6,000 per square foot, the building is expected to fetch around Rs 120 crore for the company, consultants said.

The project is spread over 2.32 acres. The last date for submission of bids is August 21.

L&T is also selling IT office properties in HI Tech city. In Mumbai, L& T is building residential apartments and commercial properties.