SPR Group inks ₹5,500-cr MoU for real estate project

Leading real estate developer in south India, SPR Group, has signed a MoU with the Tamil Nadu government to invest ₹5,500 crore in building real estate projects in the state, during the recently concluded Global Investors Meet. It will invest the money over a period of time in a number of projects across Chennai, including an integrated township spread across 65 acres at Binny Mills, near Perambur. The upcoming SPR City Project will consist of India's largest multi-commodity wholesale trade centre called Market of India, residential towers, a world-class school, mall and office buildings. Of the over 5.5 million sq.ft planned, three million sq.ft will have a shopping area, and 2.5 million sq.ft will be dedicated to infrastructure, warehousing and parking. Market of India will have more than 5,000 shops and 300 retail outlets with world class infrastructure, warehousing, logistics, supply and trade ecosystem. As many as 1500 investors have already signed expressions of interest, said the MD of SPR Group, Hitesh P Kawad.