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.
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.
“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.