Equitas Small Finance bank has bought over a prime property on Anna Salai from Arihant Foundations and Housing Limited. The deal was closed at around ?300 crore. This is one of the largest end use commercial purchases that has happened in the real estate sector in Chennai in the recent months. The Anna Salai stretch does not have many large land parcels which are available now.
This property which is precisely at Saidapet earlier belonged to Aruna Timbers. It measures around 17 grounds and is diagonally opposite to Ashok Leyland office and is quite close to the Little Mount Metro station.
Equitas is developing a huge office space here. Equitas currently operates out of a space at Spencer Plaza and they are developing 1.8 lakh sq. ft. office space here. The new office space will be developed by Arihant and work is expected to begin in the next few months. The project is expected to be completed within two years.
