Binny braces for Rs. 3,000cr townships

    Binny Township Project
    Making the most out of the emerging business avenues in the country's real estate sector, Binny has announced the launch of a 70-acre township project entailing an investment worth Rs. 3,000cr, which is going to be one of the largest projects in the heart of Chennai. The project in question is being set up on the landmark Binny Mills' property in North Chennai and is being developed in a joint venture, SPR-Binny Construction Pvt Ltd. SPR Construction whereby the partner is a developer of premium projects. The realty venture, which has got debt-funding support from Piramal, has received most of the approvals and will be soft launched very shortly, Chief Marketing Officer, SPR Construction, Pankaj Ojha said, adding that the project has been crystallised over the last two years to provide a well-planned township with a 18-acre residential area offering over 1,900 apartments spread across eight towers of 27 floors and a 28-acre commercial area which will be unique and that a villa space is also in the works but the details are being finalized.
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