Prestige Group to buy TVS’ Anna Salai land for Rs 600 cr

10 Feb 2022 CW Team

Prestige Group plans to buy a prime land parcel in Tamil Nadu stretching from Anna Salai to White's Road from Sundaram Motors of the TVS Group for Rs 550-600 crore.

A combination of retail and commercial Grade-A office space might be developed on the 89-ground plot, connecting Anna Salai to White's Road.

Other developers for the land parcel who participated are Bridge, Purvankara and Embassy, but lost to Prestige Group in the all-cash deal. It will take around 18-24 months to develop the 2.14 lakh sq ft plot.

Sources told the media that Sundaram Motors plans to sell or develop many prime land parcels in Tamil Nadu.The plots include a large plot near Poonamallee and premium property in Madurai and Trichy.

The industry experts have maintained a group of southern developers that have shown interest in the Poonamallee land parcel and other plots of the company.

Sources said these interested developers are backed by some big multinational companies (MNCs) funds. The MNC funds like Blackstone have picked up assets worth over Rs 7,000 crore from Prestige Group. Like the Anna Salai plot deal, other deals will also be all-cash deals.

Image Source

Also read: Prestige Group signs civil contract with L&T worth Rs 1,560 cr

Infrastructure Urban

18 Sep 2025

BMC Approves Phase 2 of Kala Ghoda Precinct Upgrade

With the first phase of the Kala Ghoda precinct development nearing completion, the Brihanmumbai Municipal Corporation (BMC) has approved the second phase, aimed at upgrading five key roads while introducing a public plaza and improved parking. The project forms part of a broader plan to transform the city’s iconic art district into a greener, more pedestrian-friendly cultural hub.Phase 2 will cover Mahatma Gandhi Road, K Dubash Road, Nagindas Road, Chamber of Commerce Lane, and Forbes Street, while Phase 1 work continues at V B Gandhi Marg, Rutherfield Street, Rope Walk Lane, Saibaba Road, ..

Reliance Raises Rs 210 Billion via Asset-Backed Securities

Billionaire Mukesh Ambani’s Reliance Group companies raised approximately Rs 210 billion ($2.4 billion) on Monday through asset-backed securities (ABS), sources familiar with the matter said, making it among the largest such deals in India this year.Around three-quarters of the issuance was purchased by leading domestic asset managers, including Aditya Birla Sun Life AMC, HDFC AMC, ICICI Prudential AMC, Nippon Life India AMC, and SBI Funds Management, according to the sources.The securities, issued as pass-through certificates, came via three trusts — Radhakrishna, Shivshakti, and Siddhivi..

John Cockerill Wins Rs 800 Million Tata Steel Order

John Cockerill India Limited has secured a contract worth approximately Rs 800 million from Tata Steel Limited. The order involves the engineering, design, manufacture, and supply of Pickling and Acid Regeneration Plants (ARP) for Tata Steel's Jamshedpur Tinplate Division in Jharkhand. The contract also includes supervision of erection and commissioning processes.Under the agreement, John Cockerill India will supply all critical components for the push-pull pickling line and ARP, while overseeing installation to ensure compliance with performance standards. The project is expected to be comple..