Baashyaam Group has successfully finalized one of the largest real estate transactions in the city by registering a 5.8-acre property located on Haddows Road in the Nungambakkam area of Chennai, which was acquired from Standard Chartered Bank.
The estimated value of the land, inclusive of registration expenses, is approximately Rs 1,212 crore. The company is currently assessing the type of development it intends to undertake on this site, which is situated in a region where large land parcels have become increasingly scarce.
CBRE served as the transaction advisor for this deal. In recent years, Baashyaam Group has acquired several prime properties in Chennai and is concentrating on luxury residential and high-end commercial developments.
Among its notable projects are the forthcoming luxury initiative Prarthana in ECR, luxury apartments at the Crowne Plaza site in Alwarpet, The Peak in Ashok Nagar, The Pinnacle in Boat Club, and various other prestigious projects such as Royal Damera Gardens in Poes Garden and Promenade at Thuraipakkam on OMR.
