Ceebros has launched the Atlantic, a multi-storeyed residential project at Egmore. This will soon be followed by one more luxury project, the Sea, overlooking the Bay of Bengal.

Also in the pipeline is a 10-acre mini township project in the southern part of Chennai.

At an interaction with media persons recently, C Subba Reddy, Managing Director, Ceebros group, said the Atlantic will offer over 160 luxury apartments priced from about ₹1.5 crore to ₹2.5 crore to ₹4.5 crore spread across two 18-floor towers. The total size of the plot is about 1.6 acres, where originally there had been a hotel of the same name.

A unique feature of the apartments designed by US architects SRS is that these are compact apartments of 1,350 sq. ft to about 2,600 sq. ft, ideal for modern, urban families. The apartments will be of two to four bedroom units, he said. The project is targeted for completion by December, 2015, he said. The pricing is pegged at ₹15,000 a sq. ft plus floor rise price of 250 a sq. ft for every two floors higher. There are four levels of car parks from basement, ground and two floors. Apartments will be available from the third floor onwards.

Typically, developers of luxury apartments opt for houses of over 3,000 sq. ft in this segment. But Ceebros has opted to offer compact sizes with luxury specifications and amenities. This also puts the houses in the fast moving price bracket, Reddy said.

The Sea

Plans are being finalised for an ultra luxury project The Sea at MRC Nagar. These will be large apartments of more than 3,000 sq. ft each overlooking the sea. This project will come up on what was originally the Viceroy Hotels’ property.

Mid segment

Apart from luxury projects, Ceebros also plans to launch a 750-apartment project at Perungudi in the southern part of Chennai. This will be a mini township project on 10 acres offering apartment of 1,000-2,000 sq. ft priced between ₹60 lakh and ₹1.5 crore, Reddy said.

Related Topics
comment COMMENT NOW