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Three major land deals on the southern periphery of Chennai indicate a renewed interest among the corporate sector in the city. According to reliable sources, major deals concluded recently include a 4.5-acre parcel of land bought by Eicher Motors to set up a technology centre for Royal Enfield. The plot has been acquired near Sholinganallur from a Danish company, which has shifted its factory, said the source.
The deal according to market sources could be around ₹90 crore, according to the sources. Land prices in this area, on the IT corridor, range at ₹18-20 crore an acre.
Another deal on a similar scale is of a Japanese two-wheeler major acquiring a three-acre property for a similar price range also on the IT Corridor to set up its corporate office.
A third-deal was for 6.5 acres by a realty company, which acquired the land off the IT Corridor at ₹12 crore an acre, totalling close to ₹80 crore, the sources said.
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