Mumbai's Carnival Group buys L&T's Chandigarh mall for a whopping Rs 1,785 crore

In India's probably biggest ever single asset real estate deal, Mumbai's Carnival Group has bought Elante Mall of Larsen and Toubro located in Chandigarh at a whopping Rs 1,785 crore, reported an English daily. The deal was reportedly announced on Wednesday. 

Spread over 20 acres, Elante Mall is the largest mall in entire northern India. Besides office premises, it also has Hyatt luxury hotel, one of the prominent hospitality brands along with major brands in its 15 lakh sq ft of retail space.

Rohan Sharma, Associate Director, research and real estate intelligence, JLL India said, "It looks like the biggest deal for a single asset or property".

Carnival Group's deal has surpassed Abbott India's recent transaction when it had bought office space in Godrej BKC in the Bandra Kurla Complex in Mumbai for Rs 1,479 crore.