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S Appaswamy (87), Founder Chairman of Chennai-headquartered Appaswamy Real Estate Ltd, passed away on Sunday evening due to illness.
Appaswamy began his journey in the realty sector in the late 1950s and is widely remembered as one who introduced apartment living to Chennai in the sixties.
The realty company continues to be a leading player in the residential property segment, while commanding admiration for its quality and credibility. Appaswamy Real Estate Ltd also pioneered the concept of creating townships in key suburban locations.
“Started with a humble beginning, he gave Chennaiites the advantage of living in communities. Appaswamy is one of the very few founders and pioneers in introducing apartment and community living culture. Credit goes to Appaswamy for starting the development of apartments in Chennai,” T Padam Dugar, President, CREDAI-Chennai Chapter, told BusinessLine .
In the early 90s, the company forayed into the hospitality sector and under The Residency Group of Hotels, it has luxury, business, and boutique hotels across south India. Appaswamy’s son Ravi Appasamy has been managing the affairs of realty and hospitality businesses of the Group.
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