Yelahanka Land Monetization: GOCL Corporation Ltd Shares Latest Developments.

The Board of Directors of GOCL Corporation Limited has approved the early monetization of its 38-acre Yelahanka land, known as the 'Ecopolis' project, currently under a joint development agreement (JDA) with Hinduja Realty Ventures Limited (HRVL). The project is in the process of being de-notified from the SEZ (Special Economic Zone) purview.

The monetization will involve the sale of the entire land and buildings to one of India’s leading industrial houses for a total consideration of approximately ₹2,261 crore, to be completed in tranches. GOCL is expected to receive around ₹815 crore from the transaction.

HRVL, which developed and managed the infrastructure, including obtaining SEZ approvals, constructing buildings, and securing denotification, will bear the associated costs. The financial consideration is being apportioned between HRVL and GOCL accordingly.

The transaction is anticipated to be completed within six months, with possible extensions by mutual consent.