Indian real estate firm DLF is buying out the stake held by Dubai World's property arm in an equal joint venture in India for about 2 billion rupees ($43 million), the Economic Times reported on Monday.

A unit of DLF will buy the stake owned by Limitless Group, which is a part of Dubai World, in Bidadi Knowledge City in southern Karnataka state, the newspaper said, citing a person with direct knowledge of the transaction.

Officials at DLF and Dubai World could not immediately be reached by Reuters for comment. – Reuters