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Hiranandani Group plans expansion

Staff Correspondent

CHENNAI: Mumbai-based real estate developer, Hiranandani Group, known for setting up residential townships in Mumbai, has identified Chennai as a strategic target for expansion. It will soon have its first integrated and large-scale community township at Old Mahabalipuram Road (OMR) or the IT corridor of Chennai with an investment of Rs. 2,000 crore.

Addressing a press conference here on Thursday, Surendra Hiranandani, Managing Director of the Group, said the new project `Hiranandani Upscale' would come up on 110 acres with a residential and a commercial complex and a school.

He said the township would come up in three phases and would have a gestation period of seven years. It would have two million sq. ft. of commercial space. The price of these buildings would range from Rs. 4,100 to 4,900 per sq ft., for a built-up area of 1,295 to 2,450 sq. ft. The complex would have a school with either CBSE or ISC programme and with an option for the International Baccalaureate (IB) diploma in XI and XII grades.

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