Comments
The Ramee Group has put on the block its mall property at Teynampet on arterial Anna Salai.
The Group, which operates a chain of hotels in West Asia and India, has put the 2.25 lakh sq ft mall on sale. The ground plus two floor structure comes with space for 200 car parks.
According to the mall representatives, the mall, which has space for about 45 retail outlets, is almost vacant except for a couple of shops. The land area associated with the mall is about 2 acres
Shoppers Stop was the anchor tenant for sometime but exited earlier this year. The promoters had also planned to convert the mall to a hotel. That is an option that is still open, said a representative.
The guideline value of commercial property at Teynampet on Anna Salai is about ₹19,000 a sq ft according to Registration Department website. The total guideline value works out to about ₹165 crore for two acres.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.