As per the information given by sources close to the development, Indian real estate company, DLF Ltd. Is going to, buy stake in debt-laden Dubai World. The stake is going to be in the property unit of the Dubai-based company is expected to cost DLF Rs. 2 billion.

The information was given by private newspaper, ET, on Monday.

Stake will be bought by a unit of DLF and will be done in Limitless Group, which is part of the Dubai World. The same is situated in Bidadi Knowledge City in southern Karnataka state.

Dubai World is trying to reconstruct its $23.5 billion debt.

Limitless had said in April last year that it will be reviewing its $12 billion worth of project in India. This was to cover both residential as well as commercial aspects and the reason cited for the backing out was that the authorities had failed in buying the requisite land.

At that time, a spokeswoman had said that since the authorities were not responsible for buying land, the project was getting and so Limitless and DLF had notified that they were reconsidering the plans.

However, no answer was given to the current development.