Baashyaam Group has completed the registration of a landmark 5.8-acre property on Haddows Road in Nungambakkam, marking one of Chennai’s largest real-estate transactions in recent years. The land parcel, acquired from Standard Chartered Bank, carries a combined value of about Rs 12.12 billion including registration charges.

The company is currently evaluating its development strategy for the plot, which sits in one of the most sought-after neighbourhoods in the city. With large contiguous land parcels becoming increasingly rare in central Chennai, the acquisition is expected to play a significant role in Baashyaam’s long-term expansion plans. CBRE acted as the transaction advisor for the high-value deal.

Baashyaam Group has been steadily building a strong portfolio of marquee locations across the city, with multiple luxury residential and premium mixed-use developments underway. Its upcoming projects include a high-end development at ECR–Prarthana, luxury apartments at the former Crowne Plaza site in Alwarpet, The Peak in Ashok Nagar, The Pinnacle in Boat Club, The Epic in Gopalapuram, Royal Damera Gardens in Poes Garden and Promenade, Enchanted at OMR Thuraipakkam. The group is also developing a commercial project in Guindy.

Real-estate industry observers note that the Haddows Road acquisition further consolidates Baashyaam’s presence in Chennai’s upscale neighbourhoods and signals confidence in the city’s premium housing and commercial market. With demand rising for centrally located luxury developments, the newly registered parcel is expected to attract significant interest once the company finalises its project blueprint.

The transaction adds to Baashyaam’s growing reputation as one of the city’s most active developers in the high-end segment, reinforcing its focus on creating landmark residential and commercial properties across Chennai.

News source: The Hindu