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Indiabulls closes on sale of project in Chennai, India, for 2.85B rupees

As planned, Indiabulls Real Estate Ltd. closed on the sale of its Indiabulls Greens residential township project in Chennai, India, for 2.85 billion Indian rupees, as part of its exit from the market.

The Indian property developer completed the sale through the disposal of its interests in its 100%-owned Selene Estate Ltd. and Airmid Infrastructure Ltd. units, which own residential assets in Chennai, to an undisclosed third-party investor.

As of March 28, US$1 was equivalent to 65.16 Indian rupees.