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RAISING OF 200 CRORES BY WAY OF SALE OF CHENNAI BUNGALOW BY A NON RESIDENT INDIAN

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A source from www.propertykhazana.com states that, an NRI has put on sale his bungalow for Rs. 100 crores which is located on the prime area of Chennai which may fetch him Rs. 220 crores. Because of a revival in the realty market, he wanted to dispose of the same. In contrast to Bangalore and Hyderabad, the Chennai market is highly placed. A query regarding the contenders for the same was not made available.
During 2007, when DLF along with Akruti Developers of Mumbai group, owned the Hindustan Spinning and Weaving Mill for about Rs. 300 crores, the NRI had a hold of 65% of the group’s capital. He had also pooled in funds for Amby Valley City of Sahara group and came out as a successful shareholder in the group. The Amby Valley city is sited in Maharashtra. For more and latest Indian realty updates browse www.propertykhazana.com.
Source: NBTVLIVE

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