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Real estate builder Akshaya Pvt Ltd has launched its luxury residential project, Levelup, on Sterling Road in Chennai. The project will have 48 homes and is expected to be completed by September.
Priced at ₹19,000 to ₹24,000 per sq ft, the apartments are of 2,056 to 3,826 sq ft. The builder has invested over ₹170 crore for land acquisition and redevelopment.
Real estate industry witnessed a slump in sales after the demonetisation of ₹500 and ₹1,000 notes. T Chitty Babu, Chairman and CEO, said that with things returning to normal, market sentiment is positive and people are willing to invest.
In addition to the luxury project, Babu said, around ₹1,500-1,800 crore worth of inventory across Chennai, Tiruchi and Coimbatore will be available in the market in the next one year from Akshaya. The inventory ranges from residential and office spaces to commercial and retail use.
The partnership with Disney to develop themed-residential complex will materialise in the coming months, according to Babu. He said the company has obtained project license and is in final stages of completing project design for over 2,000 homes.
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