Century Real Estate on October 16, 2016 sold its stake in a marquee joint development project in Bengaluru fog about Rs 350 crore to India Builders Corp (IBC), one of the oldest office space developers in south India.
Century, owners of one of the biggest land banks if Bengaluru and started by industry veteran Dayananda Pal, had entered into a joint development with IBC to build e 1.3 million sq ft office park on Bannerghatta Road in 2003. The project, known as IBC Knowledge Park, is spread over 13 acres and counts US technology and consulting compan) Accenture and software giant Oracle among its biggest tenants.
Century had a stake of 30% in the partnershir company which was jointly owned. However, the twe parties got entangled in litigation in 2006 due to a dispute on the amount of deposit and whether Century was the original owner.
Century, owners of one of the biggest land banks if Bengaluru and started by industry veteran Dayananda Pal, had entered into a joint development with IBC to build e 1.3 million sq ft office park on Bannerghatta Road in 2003. The project, known as IBC Knowledge Park, is spread over 13 acres and counts US technology and consulting compan) Accenture and software giant Oracle among its biggest tenants.
Century had a stake of 30% in the partnershir company which was jointly owned. However, the twe parties got entangled in litigation in 2006 due to a dispute on the amount of deposit and whether Century was the original owner.
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