Rs 200 crore paid for an IT office building in Chennai
The Xander group has paid Rs 200 crore to buy an IT office building in Chennai.
Appaswami real estate sold the property to the investment firm. The commercial building is located at Old Mahabalipuram Road.
Being an IT corridor, any property in the location is high in demand as these will be revenue generating assets in future.
Market estimated that the office building can generate Rs 15 crore of lease amount annually.
Xander will use its international presence to bring in high quality clients to lease out the space available in the building.
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Source: The Hindustan Business Online
Appaswami real estate, building in Chennai, IT Corridor, IT corridor in Chennai, Old Mahabalipuram Road, Xander, Xander group
[...] Rs 200 crore paid for an IT office building in Chennai [...]