Real Estate

Udhayam Theatre complex for sale

Our Bureau Chennai | Updated on February 03, 2013

The Udhayam Theatre complex, a nearly 1.4-acre plot at Ashok Nagar in the heart of the city, is back on the block for a potential sale.

In a public notice today, the court-appointed receiver has called for bids for the 26-ground (62,400 sq.ft.) with a four-screen cinema complex and a marriage hall.

The upset price has beenset at Rs 95 crore.

Last date for bid

The last date for the bid is March 20, 2013. The bids will be opened on March 23.

This is the third time the property, with over 50 shareholders, all members of six promoter families, has been put up for sale since 2009.

It had originally been put up for sale through an international property consultant who had tried an e-auction with an upset price of about Rs 100 crore. But the deal could not be finalised then.

Published on February 03, 2013

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