Baashyaam, Arihant in Final Race for Standard Chartered’s ₹1,000-Cr Chennai Land Deal

Chennai’s prime real estate market is set for a major shake-up as developers Baashyaam and Arihant enter the final bidding stage for Standard Chartered’s 5.78-acre property on Haddows Road, valued at nearly ₹1,000 crore.

The prime parcel, currently housing StanChart Global Business Services (GBS), is being marketed by real estate consultancy CBRE. The bank is offloading the site as part of a consolidation strategy, with plans to shift its 16,000 employees to a new facility at DLF Downtown by 2025.

StanChart GBS has operated from Haddows Road for over two decades. With its exit, the centrally located land—tucked within one of Chennai’s most sought-after addresses is drawing strong interest from luxury residential developers. Real estate analysts peg the value at around ₹8 crore per ground, underscoring the premium nature of the location.

Sources say the property will most likely be redeveloped into a high-end residential project, reflecting a broader trend in Chennai’s urban landscape where former commercial spaces are being repurposed to cater to rising demand in the luxury housing segment.

Chennai property market, especially in areas such as Haddows Road in the central regions, has seen continuous growth in land values. Developers are moving more towards residential projects due to improved margins and constant demand from high-end purchasers.

The deal, if finalized at the expected value, will be one of the largest land transactions in Chennai in recent years. It comes alongside Standard Chartered’s ongoing exit from older assets—most recently, it sold a 5-acre plot in Kelambakkam to Newtech Group, another real estate firm.

The outcome of the Haddows Road deal is being closely watched, as it could set new benchmarks for land valuation in the city’s core areas and signal continued momentum in Chennai’s upscale residential development.