pipeline

Chennai Based Developer Landmark to Launch Luxury Residential Project in Chennai

by Paul Joseph May 7, 2011

Landmark Construction, a Chennai-based real estate developer, has launched a high-end luxury apartment project at an estimated project cost of Rs 261 crore, in the city. It has 20 projects in the pipeline, including six ongoing projects, and expects the turnover to grow from current Rs 95 crore to around Rs 400 crore in next two years. The luxury apartment project named Vertica, on Peters Road in Chennai, would have 82 units. “We have got all the approvals for the 72-meter high building. The premium project is priced at Rs 14,000 per sq ft. The project duration is 30 months from today,” said T Udayakumar, managing director, Landmark Construction. The company has tied up with Kotak Mahindra Bank to facilitate 50 per cent of the investment into the development of Vertica, while the rest of the investment would be from internal accruals and sales revenue. The company would invest Rs 150-200 crore in next two years for the projects under pipeline. The projects in the pipeline includes a 400-unit apartment block in the affordable home segment in Chrompet and a 550-unit block on Poonamallee Road, in Chennai. It would also develop a 28-villa project in Pallavakkam, on the outskirts of the city. Since its inception in 2000, the company has developed total area of 550,000 sq ft through 20 projects. It has six ongoing projects and 14 new projects in the pipeline signed for construction. We have so far provided homes to 463 families and plans to provide homes to another 800 families in next two years. With this, we will become a Rs 400 crore company in next two years, he added.

Tagged as: development, hyderabad, pipeline, premium-project, projects, real estate, real estate india, the-affordable, the-investment

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Chennai Based Developer Landmark to Launch Luxury Residential Project in Chennai

by Paul Joseph May 7, 2011

Landmark Construction, a Chennai-based real estate developer, has launched a high-end luxury apartment project at an estimated project cost of Rs 261 crore, in the city. It has 20 projects in the pipeline, including six ongoing projects, and expects the turnover to grow from current Rs 95 crore to around Rs 400 crore in next two years. The luxury apartment project named Vertica, on Peters Road in Chennai, would have 82 units. “We have got all the approvals for the 72-meter high building. The premium project is priced at Rs 14,000 per sq ft. The project duration is 30 months from today,” said T Udayakumar, managing director, Landmark Construction. The company has tied up with Kotak Mahindra Bank to facilitate 50 per cent of the investment into the development of Vertica, while the rest of the investment would be from internal accruals and sales revenue. The company would invest Rs 150-200 crore in next two years for the projects under pipeline. The projects in the pipeline includes a 400-unit apartment block in the affordable home segment in Chrompet and a 550-unit block on Poonamallee Road, in Chennai. It would also develop a 28-villa project in Pallavakkam, on the outskirts of the city. Since its inception in 2000, the company has developed total area of 550,000 sq ft through 20 projects. It has six ongoing projects and 14 new projects in the pipeline signed for construction. We have so far provided homes to 463 families and plans to provide homes to another 800 families in next two years. With this, we will become a Rs 400 crore company in next two years, he added.

Tagged as: chennai-based, development, high-end-luxury, hyderabad, investment, kotak-mahindra, peters-road, pipeline, projects, property prices, real estate, real estate india, the-affordable, the-pipeline

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Chennai Based True Value Homes to Develop 12 Projects at an Investment of Rs 800cr

by Paul Joseph March 23, 2011 Uncategorized

Chennai-based real estate developer, True Value Homes India Pvt Ltd (TVH), has announced plans to invest Rs 800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment. The investment would be from internal accruals and debt. The company has so far developed six million sq ft cumulatively in both commercial and residential space. It is now developing around five million sq ft with major share of the projects in Chennai. It has a few more projects in the pipeline — to develop around seven million sq ft — and which may go up according to the market condition in future, said N Ravichandran, chairman, TVH. “We have projects in Chennai, Coimbatore and Trichy. TVH is also looking at the fast growing Tier II cities for property development. We are planning a joint venture project in Madurai. Our current pipeline is to develop a total area of around 12 million sq ft on around 12 projects,” said Ravichandran. Besides, the company is looking at starting projects at Thiruvananthapuran and Kochi in Kerala in the medium segment. It also has plans to start a project in Bangalore. However, he refused to divulge details of projects stating it was in the pipeline. Of the total projects, 80-90 per cent would be residential, while the rest would be in the commercial space, he said. TVH recently announced the launch of its Rs 125-crore high-end green residential project, TAUS, at Old Mahabalipuram Road, near here, with 403 apartments. The company, which clocked a turnover of Rs 500 crore in the fiscal 2009-10, expects to end the current fiscal with Rs 650 crore.

Tagged as: bangalore, both-commercial, commercial, divulge-details, mahabalipuram, pipeline, real estate developers, real estate india, residential, the-commercial

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