Real estate major DLF will invest Rs 900 crore in a luxury residential project in Chennai, with the flats expected to cost a minimum of Rs 1.6 crore.
K K Raman, executive vice president, DLF Southern Homes, said the company acquired 4.6 acre on the Commander-in-Chief Road here. “Originally we planned a mall at this site. Now it has been decided to go for a luxury residential project.”
The company had already made a soft launch and received booking from 150 customers. The project is expected to be completed by mid-2013. The launch price is Rs 11,650 per sft. “Minimum price would be Rs 1.6 crore and the maximum Rs 5.2 crore,” said Raman.
The company is planning three-bedroom apartments on 1,600 sft and 1,900 sft. Similarly, four-bedroom duplex flats would come up on 2,600 sft and 3,950 sft.
The project will have five towers with 17 floors and six apartments in a floor in two towers and four apartments in the rest of it.
Raman said the project would be the company’s one of the major residential projects in the city. The company is building a township project on the Old Mahabalipuram Road, with an investment of Rs 1,600 crore, and expects to deliver the flats to customers from June 2011.