The Hindu : Tamil Nadu / Chennai News : TIAM House changes hands

Online edition of India's National Newspaper
Tuesday, Mar 28, 2006

Tamil Nadu

Tamil Nadu - Chennai

TIAM House changes hands

K.T. Jagannathan

CHENNAI: TIAM House, a landmark building on Rajaji Salai, has changed hands.

The city-based Murugappa Group, which owned the building, has sold the seven-storey structure to Jesus Calls, a missionary and welfare organisation, for an undisclosed sum.

While confirming the sale, sources at the Murugappa Group were tight-lipped on the consideration received.

A top functionary of Jesus Calls told The Hindu that the trust planned to move its administrative office to TIAM House from its Greenways Road premises.

TIAM House had been owned by several persons of the Murugappa Group of companies. Hence, the sale consideration would accrue to different outfits of the group, depending on the size of their ownership.

The building on Rajaji Salai had been the headquarters of the Murugappa Group since 1958. In 2002, the group decided to sell TIAM House following a consolidation exercise, which saw surplus office space.

The group has five blocks of buildings on Rajaji Salai — Dare House, Parry House, Dare House Annexe, TIAM House and TIAM House Annexe. The last two buildings have changed hands.

Originally called Khaleeli Building, it was offered to the Murugappa Group by brothers Ameen and Khaleeli.

Khaleeli Building thus became the TI Group's in 1956 and on its site was raised the city's first fully air-conditioned tower block, with its owners moving into it from Armenian Street in 1958.

The change of the north beach skyline, dominated by classical style structures such as the General Post Office and SBI headquarters, began then.

The Murugappa Group has started vacating the seven-storey building.

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