Sale3 Jul 2026, 03:01 pm
Velan Hotels Completes Tirupur Property Sale for ₹37.16 Cr
AI Summary
Velan Hotels Ltd has announced the completion of the sale of its hotel property located in Tirupur. The transaction, finalized on July 2, 2026, was for a sale consideration of ₹37,16,02,048. The purchaser is M/s. J.P. Associates Asia Pacific Private Ltd, a non-related party. This sale follows previous disclosures made by the company regarding the property disposal. The consideration received is subject to applicable TDS deductions. The company has confirmed the completion after rectification of mistakes in the Town Survey Land Register (TSLR) of the property.
Key Highlights
- Velan Hotels finalized the sale of its Tirupur hotel property.
- The sale consideration amounts to ₹37,16,02,048.
- The transaction was completed on July 2, 2026.
- The buyer is a non-related party, J.P. Associates Asia Pacific.
- This marks a divestment of a hotel asset.
Price Impact
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