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Builder Unveils Chennai’s Costliest Apartment Project
A city-based builder is all set to promote Chennai’s costliest apartment project, where each flat will be priced at Rs 8 crore and have a foyer studded with diamonds, precious stones and pearls. Christened ‘The Art’, the project derives its theme from the cubist paintings of the legendary Pablo Picasso. A limited-edition super luxury residential complex, it is being promoted by Vijay Shanthi Builders on Kothari Road in Nungambakkam.
The previous record for the most expensive residential apartment in the city was one promoted by Kgeyes developers in the posh Poes Garden at Rs 7.46 crore per unit in 2007. PepsiCo CEO Indira Nooyi had bought one of the four flats in the project, located in the area where AIADMK leader Jayalalithaa and actor Rajnikanth live. The latest project has an opulent style, unusual even by the standards of high-end apartments. The marble floor of the foyer in every flat will be engraved with a peacock, studded with precious stones. Suresh Kumar, MD of Vijay Shanthi group, told TOI, “Our aim is to create homes that are unique, luxurious and provide value for money. It is meant only for those who want to make a statement of luxury in impeccable style.”
Mumbai-based BNK Associates is the architect of the complex, which has only 21 apartments in three blocks — each seven floors high — and with each flat measuring roughly 5,300 sqft. The builder had bought the 22-ground (each ground is 2,400 sqft) plot at the peak of the real estate boom two years ago for Rs 71.5 crore. The slump, which the realty market went through since then, apparently delayed his plans. “Now that the market is showing positive sentiments, we will formally launch the project later this month,” he said.
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