Chennai-based real estate developer Vijay Shanthi Builders Ltd is planning to develop projects worth of Rs 2,100 crore in next four years. The company has announced a residential project worth Rs 120 crore in the city.
“We already have seven million sft of work in planning stage. We are planning to complete these projects estimated at a cost of Rs 2,100 crore in the next four years,” said Naresh Jain, executive director, Vijay Shathi Builders. The company would continue to focus on the residential real estate development, he added.
Funds for the upcoming projects would be predominantly generated internally. The company is developing around four million sft.
Boulevard, a project announced on Wednesday, near Melakottaiyur, on the Vandalur-Kelambakkam road, is coming up in an area of five acre.
The project would have around 321 apartments of three bedroom units with price ranging from Rs 35 lakh to Rs 40 lakh per unit, according to a company statement. It would be handed over to the buyers by December 2013.