Gautam Adani, India’s and Asia’s second-richest man, is preparing to make a major move. According to an India Today report, he is set to acquire several high-profile properties of Sahara Group. These include Aamby Valley in Maharashtra, Sahara City in Lucknow, and the Sahara Star Hotel in Mumbai. The Adani Group may take over as many as 88 properties, potentially marking India’s largest property deal, the report said, citing two legal sources.
Adani Properties Private Limited, the Adani Group’s real estate subsidiary, is reportedly preparing to acquire multiple key properties from Sahara. Sources suggest that Sahara is looking to sell its assets in bulk rather than piecemeal. Among these are the group’s crown jewels: the 8,810-acre Aamby Valley City in Maharashtra and the Sahara Star Hotel near Mumbai Airport. Several other properties spread across multiple states could also be transferred to Adani.
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The report notes that the Adani Group may make a lump-sum offer for Sahara’s properties. However, the deal is far from straightforward. Multiple court cases involving the Sahara Group remain unresolved, and several of its companies are under investigation by market regulator SEBI. The group also owes repayment to millions of investors who had invested in its projects. Because of these disputes, many Sahara assets are stuck in legal complexities, making their sale increasingly difficult.
According to group documents, Sahara had previously attempted to sell its properties on multiple occasions but failed. There were several reasons: poor market conditions prevented it from securing fair valuations, the group could not find a reliable large-scale buyer, and ongoing lawsuits further complicated any potential transactions.