Clinching the country’s largest ever land deal, real estate major DLF Group is close to buy about 110 acres of land in west Delhi for Rs 1,750 crore. DLF will purchase the land from DCM Sriram Group. A company spokesperson declined to comment on the deal.

The land deal surpasses Unitech’s May 2006 purchase of 340 acres in a Noida Authority auction for Rs 1,583 crore.

This land parcel is situated on Shivaji Marg, west Delhi, near Najafgarh. According to market sources, DLF will develop residential property on this land. As per a Supreme Court directive, the company will be able to develop only 33 per cent of the land; the rest (67 per cent) will be dedicated to green cover.

According to analysts, since the price of the land is very high, the project will necessarily be targeted at high-end customers. Recently Unitech announced its residential project on the Noida land at the rate of Rs 7,750 per sq ft.