Tata Communications, a leading provider of A New World of Communications has sold a 1.5-acre property in Chennai for Rs 195 crore to VGN Group, a real estate developer. This transaction is expected to complete by February 30, 2013. This property had apartment blocks for Tata Communications’ employees.
The entity has sold this property with price at about Rs 7.5 crore a ground – about 2,400 sq. ft, a common measure used in Chennai - for the 26-ground property. The property is situated in Nungambakkam, in central Chennai, which is one of the premium localities with thriving residential and commercial development.
