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Sky High Chennai

In a new record for Chennai’s real estate market, NRI businessman C Sivasankaran of the Sterling Group has put a three-acre plot off the arterial Anna Salai under the hammer for a reserve price of Rs 270 crore! It works out to roughly Rs 20,000 per sq.ft.

And hold your breath, the reserve price is a base price for bidders who are expected to compete aggressively for this prime property in the heart of the city.

In terms of the price per sq ft, it would set a new record for the city. It is way above the previous highest, which was Rs 16,765 per sq ft paid by entrepreneur Shyam Kothari (Mukesh Ambani’s brother-in-law) for a 104,381 sq. ft. plot in the posh Boat Club area last year.
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