The Hindu Business Line : Runwal group to set up Rs 1,000-cr housing project in Chennai

THE Pune-based Amrut Runwal group is setting up a Rs 1,000-crore residential-cum-commercial project on what used to be the Binny textile mills land at Perambur in Chennai.

The project, which is being taken up in joint venture with the Kalapati and Reddy groups in the city, will have over 11,000 dwelling units including service units, shopping complexes, a school and temples, among other things, said Mr Pradeep Runwal, Director, Amrut Runwal.

To be completed in the next five years, the first phase of which will be ready in a year, the project will offer a residential unit for every segment of the market from lower middle class to the premium segment, Mr Runwal said.

On offer will be villas, townhouses and row houses, duplexes, penthouses and economy flats.

Also part of the complex will be a software technology park and a minigolf course.

Mr Runwal said that the company has roped in Singapore-based architect firm SAA for the project design and landscaping.

"This is our first foray out of Pune city and we want this to be a model for other projects we might take up in future,'' Mr Runwal said, adding that the company has also called in experts who are working out a workable model that will ensure water supply for the complex through a combination of borewells and, probably, a water recycling and desalination plan.

The group currently has 30 projects in Pune city including a large residential complex, a multiplex, five shopping malls and a five-star hotel, Mr Runwal said.

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