Hindustan Unilever, the FMCG major is planning to sell its residential properties across the metro cities of Mumbai, Kolkata and Hyderabad.

BS states that it has put up around 24 apartments and land parcels in uptown localities that are expected to fetch over R100 Cr.

Last year in April, HUL had sold its South Mumbai property Gulita for R450 Cr to Piramal Realty. The property housed a training centre and private residences of senior executives of Unilever’s Indian arm.

However this is not the first instance of HUL adopting the strategy to monetize its real assets.

In 2007, a relatively boom period for the realty market, it had undertaken the process of selling its real estate assets across the country and had appointed Cushman and Wakefield for the sale.

Then in 2009, it had put up seven residential properties for sale in Mumbai and Gurgaon which was expected to fetch R35 Cr.

Also in June last year, HUL sold its prime land piece in Bangalore to a Brigade Enterprises – GIC SPV for R125 Cr.

An FE piece last month had stated that Jones Lang LaSalle was appointed by the company to dispose six Mumbai apartments.

A lot of corporate were seen disposing off their real assets in the current fiscal as factors like high interest rates and renewed interest from global PE players played catalyst to the selling decision.

Earlier this month Tata Communications was planning to raise more than R2,500 Cr by selling its properties across Delhi, Mumbai and Chennai.

HDFC Bank was close to buying commercial space in Lower Parel, Mumbai for R220 Cr - in Peninsula Business Park owned by Alok Industries.

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