Ramee Group is going to sell its Chennai Mall Property

Ramee Group

In Chennai Mall Property the first three floors occupied by the mall, whereas; the rest 15 floors which includes the 325 room occupied by Hyatt Regency, a five star hotel.

This based Ramee Group owns chain of hotels in India and West Asia, but now this group is putting its mall property in Chennai on the block. As per the officials of Ramee Group, “We are not experts when it comes to run the malls because our core business is hospitality”. This 2 lakh sq-ft mall opened three years ago and it is located at the Anna Salai at Teynampet. According to Raj Shetty, Chairman and Managing Worker at Ramee, “Now people are bringing us their offers and we will sell the property, if we get the right price. Apart from that Ramee Group has also launched the Japanese premium dining restaurant and lounge Ruka in Juhu, Mumbai.

According to Raj Shetty, at this point of time we are expecting 225 crore through the sale of all and there is space for about 45 retail outlets, out of which many are vacant. He said company will exist only then if it will get the desired value and we are in no hurry to sell the mall. Apart from that mall is located at the premium location in Chennai and due to that if we will not get the desired price, so we will convert the mall into four start hotel.