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Nina Varghese

Chennai , April 3

SHRIRAM Properties Ltd is planning condominium complexes here, and is likely to enter the housing market here in two to three months, according to the Chief Executive Officer, Mr M. Murali.

Mr Murali said that he envisaged a "big boom" in housing not just in Chennai but also in Coimbatore, mainly in the middle and the upper middle class segments. The company plans to set up condominiums on the lines of the ones overseas.

The company would be able to offer the projects, which would be landscaped and set in three to four acres, "something that is not available in Chennai till now." These projects will also have features such as children's play area, badminton court, swimming pool, shopping complex and areas for senior citizens.

The cost per square foot would be around Rs 1,700 for areas such as Thiruvanmiyur and Rs 1,400 to Rs 1,500 on the East Coast Road (the road from Chennai to Pondicherry).

Shriram Properties, a part of the Chennai-based Shriram Group, headquartered in Bangalore, has seven housing projects worth around Rs 800 crore going on in Bangalore.

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Shriram Properties plans condominiums in Chennai

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