The Chennai-based S&P Foundations has launched an 80-acre residential project in the western suburb of Chennai.
Addressing a press conference recently, Mr S. Prabakar, Managing Director, S&P Foundations, said the company will soon start constructing the first phase of 10.91 acres with 592 apartments at Mogappair near Anna Nagar. Priced at about Rs 3,000-3,200 a sq ft, units of 1- to 3-BHK units will be of 950 to about 1,790 sq ft. In addition, about 50,000 sq ft of commercial retail space will also be available. When completed the project in its entirety will have over 2,900 apartments.
S&P plans to launch two more township projects with a second township in Mogappair of about 18 acres and another in Tambaram, where the company has about 150 acres of which 22 acres will be developed in the first phase.
The company has built a strong land bank in Chennai suburbs including Tambaram, Mogappair and Sriperumbudur where it owns over 372 acres, he said.