In a significant real estate transaction, Cholamandalam Investment and Finance Company Ltd (CIFCL) has acquired a 4.67-acre land parcel in Chennai from DLF Ltd, a leading real estate developer, for a total consideration of ₹735 crore. The acquisition marks a strategic move for CIFCL and underscores the continued investor interest in Chennai’s property market.
The land, situated in Guindy, Chennai, was purchased by CIFCL from DLF IT Offices Chennai Private Limited, a wholly-owned subsidiary of DLF Ltd. The sale was executed through the registration of a sale deed, as announced in regulatory filings by both companies.
According to CIFCL’s regulatory filing, the company has acquired the immovable property to bolster its real estate portfolio. This acquisition aligns with CIFCL’s strategic objectives and reinforces its commitment to expanding its presence in key markets.
DLF, in its regulatory filing, confirmed the strategic sale of the land parcel to CIFCL at the negotiated consideration of ₹735 crore. The transaction reflects DLF’s ongoing efforts to optimize its asset portfolio and unlock value for stakeholders.