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Godrej Properties to buy Delhi residential plot

Godrej Properties Ltd. is buying a residential development site in Ashok Vihar, in Delhi for 13.59 billion rupees.

The Railway Land Development Authority property spans more than 26.58 acres and has a development potential of 3.28 million square feet, according to a Feb. 17 release.

Payment for the land will be made in installments over several years.

As of Feb. 17, US$1 was equivalent to 71.35 Indian rupees.