Shardul Amarchand Mangaldas & Co. advised Rane (Madras) Limited (RML) on strategic sale of its land parcel measuring approximately 3.48 acres located in Velachery, Chennai, Tamil Nadu (out of a total of 4.5 acres), to Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations & Housing Limited, for a total consideration of INR 361.18 Crores. The deal was signed on 26 June 2025.
RML has retained the balance portion of the total 4.5 acre land at Velachery, where it plans to construct a new office facility to integrate city offices of various divisions.
The transaction team was led by Dorothy Thomas, Partner; Pirabu Mohan, Counsel; Raghavi Raj, Senior Associate; Harikrishnan S, Senior Associate; and Madhumitha Christina, Associate.
