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

Prefer HTon Google

Share via

Copy link

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

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Real Estate News

Stay updated with the latest Real Estate News, property prices, housing trends and major projects. Explore market updates, investment insights and property developments across India.