The Hindu Business Line : Hiranandani plans Rs 2,000-cr township in Chennai

Mumbai April 11 The Mumbai-based Hiranandani Constructions Pvt Ltd will construct a Rs 2,000-crore township on 110 acres land on Old Mahababalipuram Road, Chennai.

Work will commence on April 14 (Tamil New Year's Day) and will be completed in about 3 years.

The fully integrated large-scale community expanse along the IT Corridor will have over 2,000 flats between 1,295 and 2,450 sq ft priced around Rs 4,500 per sq ft, besides close to one million sq ft of high-end office space.

The high-rise buildings with 18 to 28 floors, for which the company has got the approval, will dot the skyline along the corridor.

project area

Over 50 per cent of the project area has been reserved for greenery, open spaces and public amenities.

The township will house badminton, squash and tennis courts, swimming pools, spa, gymnasium and halls for aerobics and yoga.

The company's retail group is working on the design of the shopping area and will decide on the facilities compatible with the residential populace.

The promoters will set up 100 per cent waste water recycling plants and reverse osmosis facilities; 30 acres have been allocated for an exclusive business park.

Land was identified in 2005 and since then the company has been in the process of obtaining project approval.

"We have been in business for over 25 years and the only one to have completed two 300-acre townships in Mumbai alone," said Mr Surendra Hiranandani, Managing Director, Hiranandani Constructions.

The Hiranandani Group's clientele include Colgate, Lehman, Bayer, British Gas, TCS and Novartis.

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