Hiranandani launches projects in Chennai

Announcing the group’s affordable housing projects in Chennai, Hiranandani Group has announced the construction of 500 low cost housing units at Oragadam an integrated township in the city, chairman and managing director, Niranjan Hiranandani said that the project will come up on its own land for which the building plan for the affordable houses will be submitted very shortly. The group has set aside 10 acres of land where each house will measure 40 to 60 sq.mt commanding construction cost at Rs.3,500 per sqft., and each unit would cost about Rs.20 lakh. Besides, Hiranandani Communities will also start constructing affordable houses in Panvel in Maharashtra and that the developer is also planning to construct a Special Economic Zone (SEZ) at the Oragadam Integrated Townships spreading over 25 to 50 acres. It will basically cater to the IT and IT-enabled sector, disaster management, data centre and allied activities. The drawing plan for SEZs will be ready within the next 30 to 45 days for submission and that the project would also start by the end of first quarter of 2018-19.