Business Daily from THE HINDU group of publications
Saturday, Dec 23, 2006
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Business Daily from THE HINDU group of publications Saturday, Dec 23, 2006 ePaper |
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Industry & Economy
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Real Estate & Construction States - Tamil Nadu Alliance plans villa project at Chennai suburb Our Bureau
Chennai , Dec. 22 The Bangalore-based real estate developer Alliance Group plans to invest Rs 200 crore to develop a 300-villa project at Porur, a Chennai suburb. According to a press release, the project, Bougainvillea, is located close to the Porur junction, off Poonamalle High Road, and would be spread over 25 acres. The company plans to build Spanish style villas, with common facilities such as club house, swimming pool, gym, health club, squash and tennis courts, billiards and snooker rooms and play area. The plot sizes of the villas in the gated community would range from 2,000 to 3,500 sq. ft. in three and five-bedroom configuration. The cost of the villas ranges from Rs 65 lakh to Rs 2 crore. Mr Manoj Namburu, Chairman and Managing Director, Alliance Group, said this was the first of the three projects that the company had planned in Chennai. It would be shortly launching a 20-acre integrated township project, called Orchid Springs, at Padi near Anna Nagar. The project consists of 1,100 luxury apartments, a 2.5-lakh sq. ft. IT space, a mall and a four-screen multiplex.
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