Baashyaam Group has completed one of the city’s largest real-estate deals by registering a 5.8-acre property on Haddows Road in Nungambakkam area of Chennai, acquired from Standard Chartered Bank.

The estimated land value, including registration costs, is around Rs 1,212 crore. The company is still evaluating the type of development it will pursue on the site, located in an area where large land parcels have become increasingly rare. CBRE acted as the transaction advisor for the deal.

Over recent years, Baashyaam Group has secured several prime properties in Chennai and is focusing on luxury residential and high-end commercial projects. Some of its prominent developments include the upcoming luxury project Prarthana in ECR, luxury apartments at the Crowne Plaza site in Alwarpet, The Peak in Ashok Nagar, The Pinnacle in Boat Club, and several other high-profile projects like Royal Damera Gardens in Poes Garden and Promenade at Thuraipakkam on OMR.