Besides, talks are in final stages for sale of another land parcel by Sahara group in Pune, sources said.
Similar to the Gurgaon land deal, which is probably the biggest so far this year in the national capital region, all the three land parcels may be sold to the local real estate developers in the respective cities.
The land sales are part of the group's efforts to raise funds to secure release of its chief Subrata Roy from Tihar Jail, where he is lodged since March 4 in a case related to alleged non-refund of money collected from investors for certain bonds even as the group claims to have repaid over 93 per cent of the outstanding amount directly to investors.
In Gurgaon, Sahara has sold 185 acres of land to M3M India Ltd, which plans to use for 'mixed-use development' and would pay the group the entire money in six instalments.
Also Read
The deal was announced last Thursday within days of the Supreme Court permitting the Sahara Group to proceed with the sale of four domestic properties, which is likely to fetch Rs 2,710 crore, in its bid to raise Rs 10,000 crore for Roy's release.
These four properties include land in Chauma (Gurgaon), Jodhpur, Pune and Vasai (in Mumbai).
Out of a list of nine domestic properties submitted earlier to the court, Sahara has already sold its Ahmedabad property for Rs 411.8 crore, which has gone into Sebi account.
Roy, who was sent to jail on March 4 this year in a case involving alleged non-refund of over Rs 20,000 crore with interest to depositors, was asked by the court to pay Rs 10,000 crore to get bail, of which Rs 5,000 crore should be paid in cash and rest of the amount in bank guarantee.