ITI Limited Completes Acquisition of 21 Acres Land in Bengaluru from CGST; Mortgage Released
ITI Limited has successfully finalized the acquisition and registration of a land parcel measuring approximately 21 acres in K.R. Puram, Bengaluru, completing a transaction with the Central Goods and Services Tax Department (CGST), Government of India.The total sale consideration for the said land parcel was Rs. 914.31 Crores, as finalized and approved by NLMC. This acquisition involved ITI Limited procuring the property from the CGST East Commissionerate, Bengaluru.
Prior to the sale, the land parcel had been mortgaged in favor of SBICAP Trustee Company Limited, which acted as Security Trustee on behalf of a consortium of lending banks. The transaction also required significant financial movement related to the previous mortgage obligation. ITI Limited effected a repayment of Fund Based borrowings totaling Rs. 902.81 Crores to the consortium of lending banks. This amount was calculated after accounting for income tax TDS amounting to Rs 9.14 Crores and NLMC charges of Rs.2.36 Crores, which were deducted from the total funds received from CGST.
The property transfer process reached a critical milestone with the release of the mortgage. SBICAP Trustee Company Limited executed a Release Deed on June 19, 2026, clearing the charge over the land parcel, which is situated in Krishnarajapuram Village, Bengaluru East Taluk, Bengaluru Urban District, Karnataka.
The execution of this Release Deed enables the transfer of clear and marketable title for the 21-acre property. In furtherance of the sale, ITI Limited executed the Sale Deed on July 2, 2026, in favor of CGST East Commissionerate, Bengaluru. The deed was duly registered with the Appropriate State Local Authority in respect of the land parcel located at K.R. Puram, Bengaluru.
ITI Stock Price Movement
ITI Limited shares today slipped by 0.55% to settle at ₹298.05, reflecting a decline of ₹1.65 from the previous close. The stock traded on an active market as the total volume reached 261,941 shares for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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