BPTP to surrender India's largest land deal

Unable to pay for the largest ever land deal in India, valued at Rs 5,006 crore (Rs 50.06 billion), realty player BPTP Ltd has applied for surrendering it to the New Okhla Industrial Development Authority.

"Following the UP government policy announcement, BPTP has made an application to the Noida authority for (the) surrender of (the) plot and is awaiting NOIDA's decision," BPTP Ltd Director Sudhanshu Tripathi said in a statement in New Delhi.

The company had bagged the 95-acre commercial plot at Sector 94, Noida in 2008, beating rivals realty players including DLF Ltd.