DLF sells land parcel in Chennai for ₹735 cr to Cholamandalam Investment and Finance Company

Cholamandalam Investment and Finance Company Ltd has bought the 4.67 acre land parcel in Chennai from real estate major DLF Ltd for ₹735 crore

Published on: Mar 13, 2024, 20:34:02 IST

By HT News Desk

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Cholamandalam Investment and Finance Company Ltd has bought 4.67 acre land in Chennai from real estate major DLF Ltd for ₹735 crore, the company said in a regulatory filing.

Cholamandalam Investment and Finance Company Ltd has bought 4.67 acre land in Chennai from real estate major DLF Ltd for ₹735 crore (Picture for representational purposes only) (PTI)

The "company has purchased an immovable property today, from DLF IT Offices Chennai Private Limited admeasuring 4.67 acres of land situated at ...Guindy, Chennai by executing and registering a sale deed," said Cholamandalam Investment and Finance Company.

The deal value is ₹735 crore, it added.

Also Read: DLF flat in Gurugram sold for ₹95 crore. Here are the details

“…we would like to inform that DLF IT Offices Chennai Private Limited, a wholly-owned subsidiary, has undertaken strategic sale of land owned by it, admeasuring 4.67 acres or thereabouts, situated at Chennai District, to Cholamandalam Investment and Finance Company Limited, at a negotiated consideration of ₹ 735 crore (Rupees Seven Hundred Thirty Five Crore only)[‘Transaction’],” DLF said in a regulatory filing.

Also Read: DLF to launch properties worth almost ₹80,000 crore over the next 3-4 years

According to the company's website, Cholamandalam Investment and Finance Company Limited (Chola), was incorporated in 1978 as the financial services arm of the Murugappa Group.

Also Read: DLF sells luxury residences in Privana South in Gurugram for over ₹7,200 crore ahead of official launch

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