Real Estate

Hiranandani Communities plans affordable homes

| Updated on: Jan 12, 2018

Mumbai-based developer group Hiranandani Communities will build affordable homes at its Oragadam project in Chennai in another six months, said Niranjan Hiranandani, Founder and Managing Director.

Addressing media persons recently at Hiranandani Parks, its Oragadam Township, Hiranandani said, there are many factory employees at the lower and mid income level in companies surrounding Oragadam and Sriperumbudur who are aspiring for better quality of life within their budget.

There are close to three lakh employees, many in lower and mid income, and travel long distances to reach their workplace here. There is a demand for housing that caters to this segment and affordable houses are meant for them, he added.

The affordable housing project, Aspire, will have three offerings – studio apartments, one BHK and two BHK houses, between 350 sq ft and 750 sq ft. The cost per sq ft will be ₹3000 and will be within the price range of ₹20 lakh, Hiranandani said.

Though number units are yet to be finalised, Hiranandani said 10 acre area is earmarked for development.

Hiranandani Parks, spread across 400 acres, has already sold 1200 high rise units and 300 low rise units, which are three BHK and four BHK apartments, with an area ranging from 1700 sq ft to 3000 sq ft.

The cost ranges between ₹60 lakh to ₹1 crore. Another 300 high rise three BHK apartments are under construction and is expected to be completed by December 2019.

The other projects in the pipeline for the township include a kalyana mandapam, residential international school, 150-bed multi-speciality hospital and sport academy for cricket, football, polo and swimming. Hiranandani said, "We are still in talks with respective stakeholders and nothing has been finalised.”

Published on June 19, 2017
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