12 Acres in Korattur Ambattur

Ambattur

Price: Rs 2,60,00,00,000/-

About this Property

Land is ideal for Residential and Commericial construction, The total land area encompasses 11.58 acres, featuring a frontage of 500 feet along a 40 foot road, directly opposite the Aavin factory. The asking price for the entire property is 260 crores, which is significantly lower than the actual market value of 416 crores. In this area, land typically sells for between 2 crores and 2.5 crores per ground, while the selling price for apartments averages 10500 per square foot. One of Chennai's leading builders has previously offered 254 crores for this property; however, the proposal did not materialize due to the builders turnaround time. The land currently belongs to an industry with an outstanding bank loan of 150 crores. As such, the purchaser will need to settle this outstanding balance with the bank, with any remaining amount payable to the directors. The banks funding of the property ensures that the title is clean and clear. Additionally, the project is situated in an industrial zone, with the possibility of zone conversion readily available

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