Business Daily from THE HINDU group of publications
Thursday, Apr 10, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Apr 10, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Real Estate & Construction States - Tamil Nadu Sterling group to sell property in Chennai Our Bureau Chennai, April 9 The Sterling Infotech Group, promoted by Mr C. Sivasankaran, plans to sell over 12,582 sq m land in a prime residential area off Cenotaph Road, according to sources in the know. The international property consultant CB Richard Ellis handling the sale of the property has advertised for the sale of a 12,582 sq m plot in the prime commercial and residential area off Cenotaph Road in Teynampet. According to the sources, the sale is expected to be through an e-auction route in about two months’ time. The area just off the arterial Anna Salai is suitable for high-end residential and commercial development, and is expected to attract immense interest among the developers. Conservative market estimates peg the sale value in the vicinity of about Rs 300 crore. Sterling Infotech Group bought the property from Best & Crompton last year and had planned to put up a luxury residential project jointly with a city-based developer. However, the company seems to have changed its mind. Sterling Infotech officials were not available for comment. More Stories on : Real Estate & Construction | Tamil Nadu
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