CHENNAI LAND PURCHASE
ED eyes Rs 151 crore BSNL land deal in Chennai for new office complex
The Directorate of Enforcement is set to acquire a significant land parcel from BSNL in Chennai. This move aims to establish a new office complex for the agency. The proposal is under review, with a final decision anticipated soon. This expansion reflects the ED's growing responsibilities and increasing case load across India.
Brigade Enterprises to build 39-acre township in Bengaluru, aims Rs 7,200-cr revenue
Realty firm Brigade Enterprises Ltd on Wednesday said it will develop a 39-acre township project in Bengaluru with an estimated revenue potential of Rs 7,200 crore.
Assets dip, affiliations shift: Stalin, Udhayanidhi among Tamil Nadu leaders reporting lower wealth
M. K. Stalin, Udhayanidhi Stalin and other Dravida Munnetra Kazhagam leaders have reported a decline in declared assets over five years, largely due to exiting business links under scrutiny, while the wealth of their spouses has risen in several cases.
Mindspace REIT acquires 51% stake in 2.6-million-sq-ft Chennai IT park for Rs 1,500 cr
Mindspace Business Parks REIT has acquired a significant stake in a Chennai IT park. The deal values the property at Rs 3,000 crore. This acquisition, along with another recent purchase, strengthens the REIT's presence in Chennai. It positions Mindspace REIT as a major owner of commercial office assets in the city.
Beyond the cloud: The nuts and bolts of India’s data centre boom
India's digital revolution hinges on a robust data center infrastructure, demanding a focus beyond software to the physical realities of concrete, steel, and skilled labour.
Brigade Enterprises expands annuity portfolio, explores new asset classes for growth
Brigade Enterprises is expanding its real estate business. The company is focusing on rental income from offices, retail, and hotels. New ventures include industrial parks and senior living. Strategic land purchases in southern India are fueling this growth. Demand for commercial property remains strong, positioning Brigade for future expansion.
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ICICI Prudential AIF acquires Pune IT park asset to expand yield-focused office portfolio
An investment fund managed by ICICI Prudential Asset Management has bought a large office space in Pune. This acquisition is part of a strategy to build a portfolio of income-generating commercial real estate. The fund aims to provide investors access to prime office assets. This move taps into India's growing commercial real estate market.
Nayanthara buys duplex in Poes Garden for Rs 31.5 crore
South Indian star Nayanthara and husband Vignesh Shivan have purchased a luxurious duplex in Chennai's exclusive Poes Garden for Rs 31.5 crore. The sprawling 14,369 sq ft property, located in the Legacy project, underscores the enclave's status as a prime address for celebrities and high-net-worth individuals, with property values consistently reaching crores.
Nayanthara buys Rs 31.5 crore luxury duplex in Chennai with husband Vignesh Shivan. Will she be superstar Rajinikanth’s neighbour?
Actress Nayanthara has reportedly bought a luxury duplex apartment in Chennai's Poes Garden. The property cost Rs 31.5 crore. It spans over 14,000 square feet. Nayanthara holds 90 per cent ownership. Her husband, Vignesh Shivan owns the remaining 10 per cent. The couple also has other real estate investments. Nayanthara's film Toxic is set for a June 4 release.
Shriram Properties acquires land in Bengaluru; targets Rs 600 cr revenue
Shriram Properties has purchased a 4-acre land parcel on Sarjapur Main Road in Bengaluru. The company plans to develop a premium high-rise residential project on this site. This development is expected to generate a revenue of approximately Rs 600 crore. The project will offer around 5 lakh sq ft of saleable area.
How cops nabbed the ‘monk’ who looted Jain temples across 3 states including 600g gold bar, 10kg silver crown from Chennai Sowcarpet
A 60-year-old man, Jeevan Singh, was arrested in Pune after a year-long manhunt for allegedly posing as a monk to burgle Jain temples across Tamil Nadu, Telangana, and Karnataka. Police tracked him through over 200 CCTV cameras, uncovering a pattern of thefts that funded his property purchases.
CapitaLand India Trust steps up onshore bond fundraising, targets $1 billion debt shift as divestments fuel expansion
CapitaLand India Trust is boosting its India strategy. It plans to raise more onshore debt and sell some assets. This will help fund new acquisitions and development projects. The trust aims for better cash flows and distributions. CLINT is also expanding its data centre business. This move supports India's growing digital infrastructure.
Sold land for Rs 5 crore, bought new land in wife’s name, paid no capital gains tax, got tax notice; Why ITAT Delhi denied tax exemption
A man who sold agricultural land for Rs 5 crore and reinvested the gains into a new plot in his wife's name was denied capital gains tax exemption under Section 54B. The Income Tax Appellate Tribunal (ITAT) Delhi upheld this denial, citing a Punjab and Haryana High Court ruling that disallows deductions when the new land isn't purchased in the assessee's own name.
Tamil Nadu Elections: AIADMK announces first wave of promises
AIADMK has unveiled its initial election promises for the Tamil Nadu Assembly polls. Key pledges include Rs 2,000 monthly aid for women heads of families and free bus travel for men. The party also plans housing schemes and enhanced employment opportunities. AIADMK aims to regain power in the state.
Prestige Group JV firm buys 16.38-acre land parcel in Chennai for Rs 561 cr
Prestige Estates Projects Ltd's joint venture is acquiring a 16.38-acre land parcel in Padi, Chennai. The deal is valued at Rs 561 crore. This move strengthens Prestige Group's presence in key urban areas. The land will be used for a new real estate project. Sundaram-Clayton Ltd is the seller of this significant landholding.
Bhasyam Developers buys Standard Chartered’s Chennai plot for Rs 1,200 crore
Baashyaam Group has acquired the iconic Standard Chartered Bank property in Nungambakkam, Chennai, for an estimated Rs 1,200 crore, marking the city's largest land deal. The 5.5-acre site, formerly ANZ Grindlays Bank, will be redeveloped into a luxury residential and retail project, reflecting strong demand and limited prime land availability in core Chennai micro-markets.
Brigade Group leases nine-acre land in Chennai's OMR
Bengaluru's Brigade Group has secured a long-term lease for nine acres in Chennai. The land is located in Perungudi along Old Mahabalipuram Road. This acquisition from YMCA allows Brigade to develop 1.6 million sq ft. Plans include a Grade-A office complex and a 200-key JW Marriott hotel. This move significantly expands Brigade's commercial and hospitality presence in Chennai.
CapitaLand India Trust to Acquire three industrial facilities at OneHub Chennai, India
CapitaLand India Trust (CLINT) has entered into a forward purchase agreement with Casa Grande Group to acquire three industrial facilities at OneHub Chennai, India. The deal includes CLINT's partial funding for the lease of the project land and total funding for the development of the project. As part of the forward purchase arrangement, the fund will provide funding in three phases and subsequently acquire the facilities upon completion of each phase's construction. The acquisition of Phase 1 is expected to be completed by the first half of 2025.
CapitaLand India Trust completes acquisition of two industrial facilities in Chennai
CapitaLand India Trust Management Pte. Ltd., the Trustee-Manager of CapitaLand India Trust (“CLINT”), has completed the acquisition of Casa Grande – Phase 2 in a deal valued around Rs 177.7 crore.
Brigade acquires Hyderabad land parcel for Rs 660 crore
Brigade Enterprises has completed the acquisition of a 9.72-acre land parcel in Hyderabad for approximately '660 crore. The company has been strategically investing in land acquisitions across southern India, with a focus on the residential real estate segment. The recent acquisition is part of their efforts to strengthen their presence in the market.
Brigade Enterprises buys Land across Hyderabad and Chennai
In a recent purchase, the company bought a piece of land in Neopolis, Kokapet, Hyderabad for Rs 660 crore for a 9.7-acre plot, which translates to around Rs 68 crore per acre. The company will primarily build residential properties on this expanse of land spanning one million square feet.
9 TN donors donate Rs 5 cr to TTD for expanding Chennai temple
A group of nine donors from Tamil Nadu donated Rs 5 crore to the Tirumala Tirupati Devasthanams (TTD) on Monday for purchasing land to expand the existing Sri Venkateswara Swamy temple in Chennai. The donors' delegation, led by TTD's Local Advisory Committee (LAC) president for Tamil Nadu state, Sekhar Reddy, has handed over the demand draft (DD) to the temple body's chairman Y V Subba Reddy at Annamayya Bhavan.
Varde Partners Invests Rs 400 cr in Chennai Developer Casagrand
“The money was invested against a portfolio of real estate projects and the builder has already drawn down Rs 200 crore,” one of the Varde Partners said. The builder is in talks to buy a 45-acre land parcel at Kelambakkam Road, Chennai.
CEAT buys 163 acres in Chennai for radial tyre plant: JLL
"The deal involved the purchase of a massive 163-acre land parcel in Chennai to set up a radial tyre manufacturing plant," JLL India said in a statement.
Brigade Enterprises shares surge 11% post land deal
Shares of Brigade Enterprises surged nearly 11 per cent following a land deal with Kansai Nerolac Paints in Chennai for Rs 550 crore.
Kansai Nerolac to sell Chennai land for Rs 550 crore
Industrial paints maker Kansai Nerolac today said it has entered into an agreement with realty firm Brigade Properties to sell its land in Chennai for Rs 550 crore.
J Jayalalithaa, Sasikala's assets worth hundreds of crores now
AIADMK chief J Jayalalithaa's assets, which have been confiscated by the special court in Bangalore, were estimated at 66.65 crore in 1996.
Allegation of land encroachment against P Chidambaram's wife and son
Members of the fishing community here today levelled land encroachment charges against the wife and son of Finance Minister P Chidambaram.
Brain drain hits Satyam's Chennai operations
After Hyderabad, Satyam’s Chennai operations are hit. With several senior associates either quitting or being handed the pink slip, many of Satyam’s ventures in the city have been left unattended and, hence, face closure.
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