The Hyderabad-based real estate company, Cybercity Builders and Developers, is set to foray into the Chennai metropolitan market with a major gated community project at Porur. In addition, it is also set to enter the port city of Visakhapatnam with another gated community project, Venu Vinod, Managing Director of Cybercity Builders and Developers, said adding that the company plans to develop the Chennai property on a 30-acre site in a phased manner over the next five to six years. The project, described as affordable luxury, will have a total built-up space of over 3 million sq.ft, which includes about 2,000-plus apartments with a total built-up area of about 2.5 million sq.ft and about half a million sq.ft of villas. It is in the process of finalizing a strategic tie-up with a leading Chennai-based company and expects to announce it soon. The Rs.1,500-crore project will be formally launched during the festive season. The Chennai project is located about 15 km from the airport and in the business-cum-commercial hub of the city where it is looking at offering the property at an aggressive price of about Rs.4,000 per sq.ft with a size of the apartments ranging from about 700 to 1,500 sq.ft.
📅Published on:
22 September 2017
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