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