Date:06/03/2008 URL: http://www.thehindubusinessline.com/2008/03/06/stories/2008030652201100.htm

Back Amrutanjan Chennai property up for sale

R. Balaji

Chennai, March 5 The Chennai-based Amrutanjan Ltd is selling a seven-acre prime property on Old Mahabalipuram Road, according to market sources

The move has attracted the interest of leading developers. Real estate developers who have evinced interest in the property say that going by a rough estimate the deal could be in excess of Rs 120 crore.

Land owners quote over Rs 15 crore an acre in this area.

Prime destinations

Egattur and Siruseri have emerged among the prime destinations for development for residential, commercial and IT parks.

The property at Egattur, about 20 km from the city, is close to the Siruseri IT park, and a host of other residential and commercial developments by leading developers such as Hiranandani, Puravankara and Mantri Developers.

Amrutanjan has some of its manufacturing facilities and research and development facilities at Egattur.

Cushman & Wakefield (India) Pvt Ltd, international property consultants, are believed to be handling the sale of the property, the sources said.

Meanwhile, the property consultant has announced through advertisements, the sale of a 6.87-acre plot on the IT corridor at Egattur on as-is-where-is basis.

A reputed business group owns the freehold land, which has a prominent frontage on the OMR, the advertisement said.