Ramky Wavoo Developers has launched an office-cum-residential project on Nelson Manickam Road in the heart of Chennai. The project, Atlantis, five-star rated by Crisil, is a 14-floor tower with 55,000 sq. ft of office space on four levels distributed across floors four to eight. The floor plate is about 12,500 sq. ft. The developer plans to lease out the grade-A office space. The top six floors will hold 42 apartments. Car park is provided on the first three levels. The apartments of 718-2,030 sq. ft are priced between Rs 85 lakh and Rs 2.35 crore. The sq.-ft cost is about Rs 12,500. Early buyers get it at Rs 12,000, according to Mr W.S. Habib, Managing Director, Ramky Wavoo. The office and residential zones are kept separate with distinct parking zones to prevent any overlap. The project is targeted for delivery by November 2013. The company has configured the project keeping in the mind the market demand for modern office space, which fetches a premium and is in short supply in the city. The residential component has been aggressively priced as compared with its equivalent product on offer from other developers in the vicinity. The going price in the market is a couple of thousand rupees higher, he said.

Serenity in Mumbai by Godrej

Godrej Properties Ltd, the real estate development arm of the Godrej Group, has launched Godrej Serenity, a premium residential project at Chembur, Mumbai. Godrej Serenity will be a 17-storey tower comprising spacious 3- and 4-bedroom apartments and two exclusive duplex penthouses. Mr Pirojsha Godrej, Managing Director and CEO, said, “Mumbai is an important priority for us and this project fits with our strategy of further enhancing our portfolio of residential developments in the cities we operate in.”

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(This article was published in the Business Line print edition dated July 1, 2012)
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