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Tuesday, Sep 21, 2004

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HLL to sell Chennai property

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CHENNAI: Hindustan Lever Ltd has put two pieces of real estate on the block.

The 22.2-acre (402.7 grounds) property on Elaiya Mudali Street in Tondiarpet, an industrial suburb in north Chennai, which consists of three large and two small plots is for sale.

There are four clusters and the company has called for cluster wise bids. In the first cluster (plot A), there are 117.8 grounds and the minimum bid is Rs 4.10 lakh per ground. The second cluster (plot B), there are 156.2 grounds with a minimum bid of Rs 4.10 lakh per ground. The third cluster consists of C, D and E plots together - 95.7, 12.2, and 21.8 grounds respectively - and the minimum bid is Rs 3.30 lakh per ground.

The other property for either sale or lease is the 6,393 square feet built-up area on the first floor in Fagun Chambers on Ethiraj Salai. The minimum bid is Rs 1.35 crore for sale.

When contacted, company officials said that this was normal practice and declined to provide any details.

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