Real Estate Transactions
Sundaram Clayton to sell land in Chennai’s Korattur area for Rs.561-Cr
TVS Group company Sundaram Clayton has agreed to sell its 16.381 acres of land at Korattur in Chennai to Canopy Living LLP for INR 561 crore. Canopy Living LLP is a joint venture between Arihant Foundations & Housing Ltd and Prestige Estates Projects Ltd. An advance of INR 25 crore has been received, with the remaining INR 536 crore to be paid upon the execution of the sale deed.Canopy Living LLP plans to develop a residential township on the acquired land. This marks the second project for Canopy Living, following its acquisition of 3.48 acres from Rane (Madras) Limited last year.
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