The property occupied by Vedant Children’s Hospital in Thane, owned by Yash Birla Group’s Birla Shloka Edutech Ltd was sold to its existing tenant yesterday.

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This move, which going by market rates could have fetched the group Rs 6 to Rs 7 crore, was utilised to clear off a pending loan, according to Vineet Tripathi, official spokesperson of Birla Shloka Edutech.

The 480-square-metre property that belonged to Birla Shloka Edutech Ltd. was in Vedant Complex, the same premise as Zenith Birla, that was sold in August this year.

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“The long term tenant of this property had expressed the wish to purchase the same and as part of our day-to-day transactional operations, we agreed to his request. This property has been under mortgage and we took the sale opportunity to clear off the loan,” said Tripathi.