I live in this area and work in real estate ,the land here can easily be sold for 25 cr per acre as land prices in chattarpur ranges from 10 cr to 35cr depending on the title and location ,the most pricey land in the area is dlf chattarpur farms costing 35 cr for clear title and 20 cr per acre for not clear title .While the land can be sold for 25cr doesn’t mean it will be sold reason being most land purchases in chattarpur which is a agricultre area the circle rate is 53 lakhs per acre and people who buy these lands are usually politicians,tobacco manufacters or buisnessmen generating income in cash while the company is trying to sell the whole land parcel here in full white.
Second biggest problem is the promoter himself which is the indian goverment ,if you try calling on the above number it will say the number is switched off! In cases like this a poltician or a close personal known to him will most probably pick up the land parcel for peanuts while the miniority shareholders and the goverment itself suffers.
Disc :have invested half a % portfolio for swing trade might change to long term given how sale proceeds happen for the chattarpur land.
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