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Rejig gives Anil control of prime properties

Mumbai, March 13: The restructuring of Anil Ambani’s telecom companies will not only give Reliance Communications Ventures Ltd (RCoVL) a market valuation of Rs 61,000 crore but also give it ownership of some of the highest valued properties in Mumbai.

Valuations have already been carried out for the 130-acre Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai, seven buildings in the Millennium Business Park and the Fortune 2000 building in the Bandra Kurla Complex.

Although total valuation figures are still not available, the market buzz is that DAKC has been valued at Rs 15,000 crore ? the highest of all the buildings that were valued.

Most of the buildings being valued are ‘privately owned’ by Reliance group companies which may or may not be listed.

The promoters’ holding in RCoVL will go up to 63 per cent from 40.54 per cent as a result of the re-organisation.

The property valuation was carried out by Trammel Crow Meghraj Private Ltd.

DAKC houses the national headquarters, Internet data centres, call centres, applications development laboratories and the National Network Operations Centre of Reliance Infocomm. With 2.2 million sq ft of office space spread over 14 buildings, DAKC has a capacity to house 10000 people.

The Millennium Business Park is located in Navi Mumbai. The valuation for seven Reliance-owned buildings have been carried out here.

The software park is spread over 20 lakh sq ft and has received good response from various companies as the price of per sq ft area is astonishingly low compared with other IT parks.

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