Realty Major DLF will invest around Rs 100 Crore to develop infrastructure in the 85-acre new housing project consisting of a plot located on Jalan Mahabalipuram Lama in Chennai.
The company launched the PLED Parc Estate development project on February 28. It will consist of 1,500 plots with a plot size starting at 600 sqft. to 4,000 sqft., With the estimated price of Rs 3,500 per square foot (PSF).
“The company will develop 1,500 plots, have 2.15 million square feet, for the next 18 months. The company will sell 750 plots in the first phase in the price range of Rs 25 Lakh to Rs 1.25 Crore,” said Aakash Ohri, Executive Director of the Group and Chief Business Officer.
“With a significant presence in the southern part of India over the past two decades, DLF has catalyzed Chennai’s growth as an IT goal by offering global ecosystems, workspace ready in the future, and the development of safe and safe housing. Chennai has maintained stable growth in terms of Infrastructure, connectivity, and urban facilities and emerge as the main housing market where buyers can invest with confidence, “he said.
“We hope to receive a request from Chennai, Bengaluru and Hyderabad for this project,” he said, adding companies to target IT professionals who work in this park close to this project.
P Ramakrishnan, Group Executive Director and Chief Technical Officer said, “We first analyzed buyers’ behaviors in Chennai and found that people here prefer to buy a plot of other investment. Old Mahabalipuram road witnessed rapid infrastructure development, making it a perfect site, Close to Chennai’s growth corridor. “
OMR is expected to be able to see many infrastructure projects, adding investment value in the future. This includes the Metro Rail Phase II corridor, several flyovers to facilitate the flow of traffic, multi-deck transportation corridors along the old Mahabalipuram road and several road widening initiatives.
DLF has developed 153 real estate projects and develops an area of around 330 million square feet. The DLF group has 215 MSF (around) the potential for development in all housing and commercial segments. This group has an annuity portfolio of more than 35 MSF (around)