Rane Madras: Velachery Land Deal Done

Rane (Madras) Ltd. (RML) has entered into an agreement with Canopy Living—a joint venture between Arihant Foundations & Housing and Prestige Estates Projects—to sell 3.48 acres of its 4.50-acre land parcel in Velachery, Chennai.

RML will retain the remaining portion of the land to construct a new consolidated corporate office, as part of a strategic move aimed at achieving two core objectives: debt reduction and the integration of multiple city-based offices. This consolidation is expected to yield long-term cost synergies, supporting RML’s ongoing merger-related restructuring.

By bringing various divisions under one roof, the company intends to enhance operational efficiency, streamline workflows, and improve resource utilisation. The monetisation also reflects RML’s focused approach to optimising its urban real estate holdings while laying the foundation for future growth.

The upcoming modern office complex on the retained land will serve as a central hub, supporting collaboration and driving the company’s next phase of expansion.

News by Rahul Yelligetti.