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Bijoy Ghosh

Highflier: (from left) Mr Ahamed Shakir, Director, ETA Star Property Developers Ltd; Mr P.H.M. Syed Ismail, Managing Director; Mr A.K. Abdullah and Mr Fayaz Ahmed, Directors, with a model of ‘Rosedale’, at a meet in Chennai on Thursday. —

Our Bureau

Chennai, Aug. 7 ETA Star Property Developers Ltd has announced plans to set up a residential complex, ‘ETA Star Rosedale,’ on the Old Mahabalipuram Road near here.

The project coming up at Padur, south of Chennai, will have a total built up area of over 6,50,000 sq ft with 444 apartment units, priced in the range of Rs 30-60 lakh a unit.

Rosedale targets NRIs, IT professionals and the upper middle class segment. It will offer all the modern amenities including retail space, entertainment and fitness facilities, landscaped area and party halls.

Addresssing the launch of the project, Mr P.H.M. Syed Ismail, Managing Director, ETA Star Property, said that a feature of the project would be the single bedroom apartments to suit the needs of a young, small family.

The single bedroom apartments would range in size from 784 sq ft to 905 sq ft; two-bedroom apartments would be of 1,190-1,278 sq ft; and the three-bedroom apartments of 1,545 to 1,753 sq ft with a price of about Rs 3,500 a sq ft.

The company plans to start delivering the apartments in 24 months.

ETA Star Property is part of the $6 billion ETA Star conglomerate based in Dubai.

Mr Ahamed Shakir, Director, ETA Star Property, said that the conglomerate has over 30 million sq ft of development happening across the world.

About a third of the developments are in India, where it has major projects in Chennai and Bangalore.

Mr Fayaz Ahmed, Director, ETA Star Property, said that the company has projects in residential, office, commercial segments and SEZs.

Officials said that the company would soon start work on the 350-acre township in Sriperumbudur.

It would start with a 7.2 acre project with a hotel, office building and retail and multiplex.

This would be followed up with a 30-acre residential project in March 2009 and work on the township would continue in phases over the next eight years.

It has projects in various stages of development including a 4-million sq ft IT Park at Navalur on the OMR, a 4.5 acre residential project, Jasmine Court, in Porur, a suburb to the west of Chennai, plans to start work on an office complex on the arterial Anna Salai and another in a central business district.

More Stories on : New Projects | Real Estate & Construction | Andhra Pradesh

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