Tata Realty to buy Chennai land for Rs 500 crore-Market News
Tata Realty and Infrastructure Ltd (TRIL) has emerged as the frontrunner to acquire a 22-acre land parcel in Chennai from Xander Investment Management and Realvalue Promoters for about Rs 500 crore, two people aware of the development told ET.
If TRIL clinches the deal, it will be the first large transaction that the company will have undertaken after it reorganised its operations. “The company is conducting due diligence on the property located on Thoraipakkam road in Chennai, an upcoming IT corridor. While TRIL is the frontrunner, a local Bengaluru-based builder is also in the race……” (ET News dated 23.10.18)