Tuesday, October 16, 2007

Nitesh Estate wins a church property in the heart of Chennai city


jesusganesh, originally uploaded by ngandhi.

At Rs 642 crore excluding registration, the transaction is the costliest land deal in south India and jostles for a place among the biggest deals nationally. The Chennai archdiocese had put the land parcel on Chamiers Road on a 66-year lease and called bid for the same, with some 30 expressions of interest coming in the initial round itself.

Fifth-largest land deal in India :

The just-concluded transaction could well be the fifth-largest land deal in India after Adani’s Rs 2,250-crore pact with HDIL, DLF’s Rs 1,675-crore acquisition of DCM Shriram property in Delhi, Unitech’s Rs 1,586-crore purchase in Noida and DLF’s Rs 702-crore acquisition of National Textile Mills’ land in Mumbai. Earlier this year, hospitality major Leela Group purchased a three-acre plot at Chanakyapuri in Delhi for Rs 635 crore.
: Nitesh Estate wins Chennai realty deal- The Economic Times


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