Gurugram-based real estate developer Chintels India has transferred the ownership of two land parcels valued at Rs 121.82 crore having a cumulative area of 7.85 acres to listed real estate developer Sobha Ltd in Gurugram, registration documents accessed by real estate data analytics firm CRE Matrix show.
Both the developers said that these plots were part of their joint venture project 'International City'.According to the documents, one land parcel, measuring 5.788 acres, is in sector 108, while the other plot, which measures 2.06 acres, is in sector 109. Both the plots fall in Babupur village near the Dwarka Expressway, which is likely to become operational soon.
The documents showed that the cost of the 5.7-acre plot is Rs 86.82 crore, while the 2.06-acre plot was valued at Rs 35 crore. The cumulative worth of both the plots was Rs 121.82 crore.
The conveyance deed was executed on December 22, with Sobha Ltd paying a cumulative stamp duty of Rs 8.53 crore for both plots, the documents showed. The company paid Rs 6.07 crore as stamp duty for the 5.78-acre plot and Rs 2.45 crore stamp duty for the 2.06-acre land parcel.
Chintels India was engulfed in controversy after six floors of tower D of the Chintels Paradiso housing complex in sector 109, Gurugram, collapsed in February 2022, killing two women. Following the mishap, a structural safety audit of the housing complex declared five out of nine towers of Chintels Paradiso society “unsafe to live”.
