New Delhi: That the real estate market is going through a sluggish period is pretty apparent as lately some large realty companies have started to sell part of their licensed land in township projects to other realty companies. The purpose of the sell seems to be to raise funds for the completion of projects and get someone to help in the process.Manoj Gaur, Managing Director of real estate development firm Gaursons India said, “The market is certainly slow and this will help us improve demand.” Recently Gaursons had bought a floor space index (FSI) of 300 acres of licensed land from the Jaypee group on the Yamuna Expressway. The deal was made for Rs 1,600 crore. Gaursons will be selling plots on this land in smaller FSIs to local builders. Previously Gaursons had sold floor space index (FSI) of 300 acres to smaller builders on its Noida Extension project.The Vatika group sold 2.2 million sq ft of residential FSI to three developers namely Ashiana, Assotech and ATS. The deal occurred in the 300 acre township that Vatika group owned in Gurgaon. The idea of selling parts of a single township to three different developers has been welcomed and Managing Director of Vatika, Gautam Bhalla feels, “A few builders together developing a large township will improve the speed of execution and will create variety and healthy competition in the area.” It takes at least 8-10 years to complete large township projects. In case more than one developer is working on the project the speed of execution will definitely be quickened.Assotech the Noida based real estate company paid Rs 175 crore for the 10.5 acres it bought from the Vatika Group. Managing Director of Assotech, Sanjeev Srivastva said, “With a few developers now working within this township, it will show the buyers that there is enough activity happening here, something that could improve demand for sure.”Other such deals in Noida and Gurgaon include the selling of 10 acres of land to the Paras group by the Indiabulls Real Estate for Rs 200 crore. Also ATS bought 100 acres from Orris on the Yamuna Expressway. Orris sold the land to get a partner who can help in the speedy development of the large township they are working on. займ на карту без отказов круглосуточновзять кредит онлайн