Indian Bank selling mortgaged Industrial Park in Sohna

New Delhi [India], November 30 (ANI/Hecta): The Keystone Knowledge Park was inaugurated by the Chief Minister of Haryana Manohar Lal Khattar in 2017 to promote R&D in Pharma, FMCG and Agri. This property was mortgaged with Indian Bank by the developer and is now being sold under the SARFAESI Act, after the loan default. It is now under physical possession of the Indian Bank, New Delhi branch.
This property was first auctioned for 122 Crores earlier and is now being sold for 59.2 Crores, which is nearly 50 per cent less than the initial price. Per market value estimate, this is a very good distress deal for investors.
This knowledge park constitutes 20 Acres land with 2.5 Lakh Square feet campus for Biotech SEZ. Of the 20 Acres, 7.72 acres is an approved Biotech SEZ while the rest is denotified area for industrial area. This is a Ready-to-Occupy and Ready-to-Operate campus. The industrial area can be used for logistics and warehousing as it is on Delhi-Mumbai Highway, on Sohna-Ballabgarh Road and near Westin Sohna.
More details are available at https://hecta.co/property/knowledge-park-gurugram-sohna-road/
This story has been provided by Hecta. ANI will not be responsible in any way for the content in this article. (ANI/Hecta)