The Hindu : Tamil Nadu / Chennai News : Ambitious Rs.1000 crore township plan in Perambur

Online edition of India's National Newspaper
Thursday, Jul 13, 2006

Tamil Nadu

Tamil Nadu - Chennai

Ambitious Rs.1000 crore township plan in Perambur

Sandhya Soman

Proposed project on Binny Mills property `will change face of North Chennai,' say promoters

HIGH RISE: An artist's impression of the township proposed at Perambur.

CHENNAI: The city is all set to get a full-fledged township with schools, swimming pools and nearly 5,000 apartments on a 70-acre plot in Perambur.

The Rs. 1000-crore project with its landscaped grounds and "competitively priced" apartments is coming up on the Binny Mills property, now owned by SSI Ltd. If things turn out as planned, the project may change the face of north Chennai, its promoters say.

Booking from July-end

"We will start constructing by the end of July. Bookings for the first set of 500 three-bedroom apartments will open simultaneously," according to chairman and CEO Kalpathi S. Suresh.

Though the promoters are yet to finalise the construction companies, Mr. Suresh said by the next quarter (January-February 2007) bookings for the next 500 will start at the township designed by Chicago-based SCB architects. "We expect to roll out 1,000 apartments costing between Rs. 30 lakh and Rs. 40 lakh every year over the next 5 years," he said in an interview, adding that most of the initial occupants would be from in and around Perambur and other parts of North Chennai.

What could be the draw at a township located in North Chennai?

Facilities

According to Mr. Suresh, there have been lot of enquiries from not just Sowcarpet, Mint and Parrys Corner but also from Kilpauk, Purasawalkam and Ayanavaram. The demand is not just for housing, he explained, saying the project will have one of the top city schools setting up a facility at the township.

"We are also looking at an 80-100 bed hospital with emergency care and 24-hour pharmacy within the township other than a multiplex, a temple, a three star hotel, tennis and basketball courts, swimming pools and gymnasiums," said Mr. Suresh. There will be a 20-acre commercial area where retailers and a few MNCs would share space with wholesale merchants.

The project will click because of its proximity to Vyasarpadi Jeeva railway station and the Perambur flyover that is now on the fast track, he pointed out.

All these activities and increased commerce would change the face of North Chennai, he said.

Printer friendly page
Send this article to Friends by E-Mail

Tamil Nadu