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Construction : Real Estate | September 2013 | Source : Construction Update

L&T Realty to sell out its Chandigarh assets

Intending to exit its non-core businesses, L&T Realty has put on sale its commercial properties in Chandigarh. The company is expecting to get between Rs 1,200 and 1,400 crore from the sale of the three assets. The properties of L&T put on block are its 1.15-million sq ft mall, a 4,00,000-sq ft office building Elante, and its under-construction Hyatt Regency hotel.

Elante project with an office building and a hotel is spread over in 20 acres and it is the the company's flagship venture with 1.15 million sq ft of mall space.

The Elante mall, launched just six months earlier, has already gained popularity in Chandigarh, a city with good discretionary spending.

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