Business Daily from THE HINDU group of publications
Tuesday, Apr 10, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Apr 10, 2007 ePaper |
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Corporate
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Announcements Industry & Economy - Real Estate & Construction States - Tamil Nadu Rane Madras Chennai property up for sale Our Bureau
Chennai April 9 Rane (Madras) Ltd is putting up for sale a 63,162 sq ft property at Velachery on the southern outskirts of the city. International property consultants, CB Richard Ellis South Asia Pvt Ltd, which is handling the sale, has advertised for the property of 26.25 grounds (2,400 sq.ft. a ground) on Velachery Main Road. According to information provided by the company to the stock exchange, the sale would be through the e-auction route. Leading developers say the sale is bound to evoke keen interest. The developers were not willing to hazard an estimate - they say that there have not been any transactions of this size in the recent past in that area. The property and location allows for multi-storeyed construction. Apartment blocks in the area can command about Rs 4,000 a sq ft, putting them in the premium segment.
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