Contact Us

13 realty companies like DLF, Parsvnath and Eros bid for SEBI's Delhi office

Ravi Teja Sharma, New Delhi, The Economic Times

May 15, 2012


Realty players DLF, Parsvnath and Eros are among the 13 companies, which have put in a bid for the Securities and Exchange Board of India's new northern regional office in Delhi as the regulator seeks to expand its operations in Delhi.

The market regulator is in the process of buying 30,000 sq ft or more of office space in Delhi's Connaught Place area. It currently operates through an 8,000 sq ft office on Sansad Marg and wants to make an outright purchase of built-up office space or a plot of land.

Parsvnath has offered to sell its 1.18-acre plot on Kasturba Gandhi, which it has been trying to sell for the last two months for 600-700 crore, said sources in the know who did not want to be named. DLF wants to sell space at DLF Towers in Jasola while Eros has offered space in Eros Corporate Towers in Nehru Place, said the sources.

An email sent to Sebi did not elicit a response.

The transaction for 30,000 sq ft of space in Connaught Place is expected to happen between 150 crore and 200 crore, though a Sebi spokesperson did not confirm its budget sanctioned for the specific property.

In its budget for 2012-13, Sebi has put aside around 281 crore for the acquisition of office and residential premises. This amount includes acquisition of new office premises or plot of land in BKC for additional office space in Mumbai, setting up of five local offices at new locations, purchase of flats for senior executives at Mumbai and also the purchase of office space for a northern regional office at New Delhi.

According to the source, technical bids received by Sebi were opened on Friday and are being analysed currently. The financial bids of the shortlisted parties will be opened subsequently.

Sebi has been trying to buy a larger office in Delhi for the last two years and has gone through the bidding process twice already. In both the attempts it remained unsuccessful because the properties involved had ownership issues, improper municipal permissions and other issues.