by THO
Cholamandalam Investment and Finance Company Ltd has bought 4.67 acre land in Chennai from real estate major DLF Ltd for ₹735 crore, the company said in a regulatory filing.
The “company has purchased an immovable property today, from DLF IT Offices Chennai Private Limited admeasuring 4.67 acres of land situated at …Guindy, Chennai by executing and registering a sale deed,” said Cholamandalam Investment and Finance Company.
The deal value is ₹735 crore, it added.
Also Read: DLF flat in Gurugram sold for ₹95 crore. Here are the details
“…we would like to inform that DLF IT Offices Chennai Private Limited, a wholly-owned subsidiary, has undertaken strategic sale of land owned by it, admeasuring 4.67 acres or thereabouts, situated at Chennai District, to Cholamandalam Investment and Finance Company Limited, at a negotiated consideration of ₹ 735 crore (Rupees Seven Hundred Thirty Five Crore only)[‘Transaction’],” DLF said in a regulatory filing.
Also Read: DLF to launch properties worth almost ₹80,000 crore over the next 3-4 years
According to the company’s website, Cholamandalam Investment and Finance Company Limited (Chola), was incorporated in 1978 as the financial services arm of the Murugappa Group.
