Jun 20, 2015 03:32 PM IST | Source: CNBC-TV18

Shapoorji Pallonji sells Chennai IT park for Rs 1400cr

Sources say the deal involves the sale SP Info City to the Canadian Pension Plan Investment Board.

In what could be called the largest real estate deal of the year, Mumbai-based developer Shapoorji Pallonji is understood to have sold its Chennai IT park to a Canadian pension fund, reports CNBC-TV18’s Manasvi Ghelani.

Sources say the deal, valued at Rs 1,400 crore, involves the sale SP Info City to Canadian Pension Plan Investment Board. The IT park was a 50:50 joint venture between Sharpoorji Pallonji and New Vernon PE Fund, is spread across 12.5 acres and has 2.7 million square foot of office space.

When contacted, the realtor declined to comment.

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