Mumbai, Jan. 15 -- Adani Group is in advanced talks with Dubai-based developer Emaar Group to acquire a majority stake in its Indian business for Rs.4,000-5,000 crore, two people aware of the matter said.

"It (the deal) will be for 70-100% ownership acquisition in Emaar India. Most of the projects (of Emaar) are at prime locations, which promises superior valuations," one of the two people said, adding the acquisition is likely to be done by Adani Realty, an unlisted company.

"The valuation for the deal is yet to be finalized, but it should be at least around Rs.5,000 crore. A lot will depend on negotiations on the final terms," the person said on the condition of anonymity.

If the deal goes through, it will be Adani's largest purchase...