The main real estate developers based in Chennai, the Baashyaam and Arihant Foundations Ltd group, are the last two bidders in the race to buy the property of 5.78 Acres by Standard Chartered Group at Haddows Road in the heart of the city. The property is valued at around ₹ 1,000 million rupees and houses the group’s global services. Cbre was previously appointed as the agency for sale.
Industry sources said that if any of the real estate developers wins the agreement, the entire property will be razed to give way to a residential project. The cost of the earth in Haddows Road could be ₹ 8 million rupees to ₹ 9 million rupees per terrain (2,400 square feet). The current market price for an apartment in the Haddow Road region ranges from ₹ 25000 and ₹ 30,000, the fountains said.
“If it is sold, the residential property in the Standard Chartered location will obtain a good gain,” said a real estate analyst, commenting on the viability of a residential project on Earth.
Stanchart GBS has been operating at Haddows Road for almost 24 years. The sale is part of the Stanchart GBS plan to relocate its 16,000 employees of four locations, including Haddows Road, in Chennai, to a new integrated installation of 7.40 LAKH SQ FT in the center of DLF by 2025. In November 2022, Business line He informed that the property would be put on sale.
Posted on April 21, 2025