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Adroit plans luxury apartments in Chennai
R. Ravikumar
Chennai
June 18
Bangalore-based garment exporter Siddhartha Apparels that supplies to many global menswear brands in Europe, has diversified into the realty business through a new identity — Adroit.
The company has acquired a 15-ground property at Shastri Nagar in Chennai for the purpose. According to Mr Gaurav Goenka, Managing Director, Adroit Urban Developers, the residential apartment, Aura One, will have 35 air-conditioned apartments ranging from 1,500-2,000 sq.ft each.
Overall, 40 per cent will be the built-up area and the remaining 60 per cent will be left open. Apart from other facilities, Aura One will also feature security systems, car parking for residents and visitors and gym.
"The project is all set to be completed by the end of 2008, and the launch price is Rs 8,000 to 8,500 per sq.ft.," said Mr Goenka.
Adroit is also keen on developing large-scale townships in tie up with other promoters in future.
At present, it is on the lookout for land in the range of 25 acres and above near Chennai to develop a full-fledged township to cater to the middle-class.
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