L&T Metro Rail will lease 15 acres in Raidurg to Rafferty Developments, a collaboration involving Brookfield Corporation and K Raheja Corp Ltd. The lease, spanning 50 years, will yield over 1,200 crores. 

L&T Metro Rail recently informed the Bombay Stock Exchange of approval from the local government and stakeholders for transferring its operational Raidurg venture via a slump sale to Rafferty Developments Private Ltd. 

However, the deal depends on meeting procedural requisites, getting approvals, and finalising terms. The decision was made during a special meeting on 16th August. 

Insiders state L&T Metro Rail's goal is to monetise land parcels acquired under its Metro concession. 

L&TMRHL's official submissions state, "Following endorsement from Telangana government and Company's Members, execution of the intended transaction for the Raidurg project through a slump sale to Rafferty Developments Private Limited and more."  

In an earlier proposal for environmental clearance, L&TMRHL planned three IT office towers over 4.6 lakh sq ft on nine acres, allocating the rest six acres for a shopping complex.