Real Estate Transactions

Binny to sell 600-acres in south TN for Rs.36-Cr; to form JV for developing Chennai land

Business Line  

Binny Ltd is to sell 600 acres of its windmill lands in Tamil Nadu for INR 36 crore. The land parcels, located at Perungudi and Veppilangulam villages, will be sold for INR 6 lakh per acre. The company's board also approved a proposal to develop 12.43 acres in Valasaravakkam in Chennai into a residential apartment complex in a joint venture with Radiance Realty Developers on a revenue sharing model.

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