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DLF makes the highest bid for Tidel-II in Chennai

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Claimed sources to www.propertykhazana.com said that India’s biggest realty development company DLF Ltd. is rising up as the chief bidder for the setting up the Tidel-II, which is the second IT/ITes SEZ in Chennai. DLF has made a bid of Rs. 26.07 Crores and 26acres land at Taramani and has taken the total bid amount of Rs. 660 Crores and also in the bunged bids called out by Tamil Nadu Industrial Development Corporation. DLF bid at the price of Rs. 5,757 per Sq.ft for the land comprising 11.32 Lakhs Sq.ft and other realty developers like Ascendas, RMZ Corp and Prestige Group were the bidders for the land, added the source at the www.propertykhazana.com. The land is situated close to American International School off the IT corridor and the property will have about 2.6 million Sq.ft constructed space. There was a tough rivalry between the developers because the venture was expected to be one of the biggest milestones in Chennai.
As monthly IT space lease rents in the locality will soar for about Rs. 47.50 per Sq.ft and the bid is thought to be an eye-catching investment. It will be well enclosed below the venture with the price comprising the property estimating for Rs. 1,500 Crores. The venture is expected to build up Chennai’s location as the hub for IT/ITes conglomerates and with the soaring explosion of IT companies in Chennai, demand for the commercial lands or for rental lands will be hiked. For more information and regular updates fallow us @ www.propertykhazana.com.

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