Sundaram Clayton Sells Korattur Land to Canopy Living

Sundaram Clayton, a company based in Chennai, has sold a big piece of land (16.381 acres) in Korattur to a company called Canopy Living.

Canopy Living is a team effort between two other companies, Arihant and Prestige.

The land was sold for ₹561 crore.

Sundaram Clayton got ₹25 crore in advance and will get the rest when the sale is final.

Canopy Living plans to build a place where people can live, called a residential township.

This is the second project for Canopy Living.

Their first project was in Velachery, where they bought land from another company.

After this news, Sundaram Clayton's stock price went up a bit.