Real Estate

Real Estate Transactions

Apollo Hospitals buys Junction Mall in Chennai's OMR for Rs.172-Cr: report

Times of India  

Apollo Hospitals has bought Junction Mall, which was being built on the Old Mahabalipuram Road (OMR) by the MARG Group for around INR 172-crore to redevelop it into a 700-800 bed speciality hospital. While the property was valued at around INR 155 crore, a sum of INR 17 crore was paid as the stamp duty and registration fee. The MARG Group had planned to develop the 7-acre property into a mall-cum-multiplex, along with high-end residences. LIC and Edelweiss had backed the project. The construction activity, which began in 2008-09, came to a standstill in 2012.