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Sun TV buys land in Chennai for Rs 3.3 cr

Sanjiv Shankaran

Chennai , July 7

SUN TV has purchased 10 grounds in MRC Nagar from the Madras Stock Exchange for Rs 3.3 crore.

Official sources said that the deal was concluded towards the end of June. They added that the land had been originally earmarked for residential use.

Stockbrokers said that the exchange had planned to sell some property to finance its plan to obtain trading rights on the National Stock Exchange for its subsidiary company.

The exchange had earlier placed advertisements that sought buyers for its land. The current deal follows a land transaction between the two in the same locality. In the late 1990s, MSE had sold 30 grounds in the city to Sun TV.

More Stories on : Radio/TV | Stock Exchanges | Real Estate & Construction | Tamil Nadu

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