Urbanrise, a wholly owned subsidiary of Alliance Group, is set to build townships worth ₹3,600 crore on a 96.5-acre land parcel in Tambaram, Chennai. The project, with a development potential of 13 million square feet and a revenue potential of ₹7,000 crore, is part of Urbanrise's expansion plan in the real estate sector, which includes acquiring large tracts of land in prime locations across Bengaluru, Chennai, and Hyderabad.
Tambaram, which is quickly becoming a commercial-cum-residential hub of Chennai, is an ideal location for the development of an integrated township with world-class amenities. Alliance Group, a leading real estate company in South India, has delivered over 7,500 housing units and currently has 54 million square feet under development, with another 25 million square feet in the planning stages.
The mega township project in Tambaram is expected to significantly boost Alliance Group's position in the real estate market and contribute to the development of the region's infrastructure. The investment in the project is likely to have a positive impact on the economy, creating jobs and new opportunities for businesses in the region.