Industry & Economy
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Real Estate & Construction
Vijay Shanthi Builders eyes premium segment
Our Bureau
Chennai
,
April 14
VIJAY Shanthi Builders Ltd is getting into the high-end market and is investing about Rs 80 crore in four projects in four months.
Each of the apartments in the new projects would be in the range of Rs 60 lakh to Rs 1 crore. The company is planning to tap the premium end of the market, as the demand for plush housing seems to be on the upswing.
Mr Naresh Jain, Director, Vijay Shanthi Builders, said growth in higher income housing has been evident during the last two years.
This is a departure from the company's earlier marketing strategy of catering to the lower and middle segments, which were then seen as the faster growing categories.
The company's first venture into the premium end is the "Courtyard" project, off Haddows Road in Central Chennai. This project is on 21 grounds and the total project cost is about Rs 27 crore (inclusive of land cost).
There are two blocks of 32 flats with each flat covering about 2,500 sq ft. The developer is offering facilities such as a skating rink, swimming pool, elders park, children's park, indoor games, hall for disco parties and so on. The cost per flat is about Rs 95 lakh.
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