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Puravankara Group Hopes to Establish Presence in Chennai
One of the leading property developers, Puravankara Group has slated the plans to invest a prohibitive amount of Rs. 1,000 crore for development of different real estate projects it proposes to take up in and around Chennai.
The group had already shell out Rs 500 crore for its current projects in Chennai. It is also believed to launch its residential project at the IT Corridor on the Old Mahabalipuram Road in Chennai.
The construction for another outstanding project including an investment of Rs 300 crore is being built over 11 acres. The development would begin around May. The project would be over by the next three years.
The new project ‘Purva Swan Lake’ by Puravankara Group will feature 700 apartments. Each apartment will have two bedrooms with an area ranging between 1,250 sq. ft. – 1,750 sq. ft. As far as the cost of these flats is concerned, they would range from Rs. 3,400 – Rs 2,800 per sq ft.
The company has been bestowed the status of being an outstanding developer by Crisil and is an ISO 9001 certified. It has a vast experience in construction and had so far taken on real estate projects measuring 15 million sq. ft.
Swan Lake would be the company’s first residential project in Chennai. The company already has two commercial projects for IT companies in Chennai. With all the construction projects in bag, Puravankara Group has certainly fastened its seat belts to set a substantial presence in the fast flourishing city of Chennai.
News Published Under: Chennai, Real Estate Developers | 2 Comments »
We are a US real estate fund looking for an architectural services partner in Chennai to advise our portfolio companies. Any thoughts about reputable local firms in Chennai/Bangalore? I have learnt about a very capable firm called Shilpa Architects. Any ideas about who else Purvankara uses? Thoughts/advice would be appreciated.
Tried Arvind Associates…..they do a good job .They do US projects as well as Indian projects…they are small and compact with a good turn around time.