L&T Realty forays into Commercial Market of Chennai

To make the most out of the emerging business avenues in the commercial real estate segment in the South, Larsen & Toubro Realty has planned to build its maiden commercial project in Chennai. The 6.85 million sq ft project will be developed in four-five phases. In the first phase, it will develop around 1.2 million sq ft space and the project is expected to be completed by 2022. It will also have a million sq ft of residential development space. The project is coming up on a 40-acre plot in the IT hub of Chennai owned by its arm L&T Valves. In the Chennai market, Grade-A space has been leased out and its management is bullish on this project as it is strategically located at Porur with good availability of IT talent. With the launch of new projects, L&T Realty has marked its presence in West, South and North India with many residential, commercial and retail projects.