Marg Properties, the residential arm of Chennai-based infrastructure and real estate development firm Marg Ltd, has announced plans to set up retail shops in Chennai and Puducherry, to disseminate project and industry related information and demonstration to prospective customers.
The company will open its first shop, under the brand Marg ProperTies Shoppe, in Chennai on Saturday. It has plans to open four more shops in the region, including three in Chennai and one in Puducherry in next three months, according to GRK Reddy, chairman and managing director, Marg Ltd.
The shops would serve as an education and counselling centre for prospective customers by sharing updated industry knowledge for a more informed investment decision. With the growing demand in residential areas in the city, we think that this would help our customers to choose from various available options, he said.
The first shop is set up with an investment of around Rs 50 lakh and the company looks at investing almost the same amount in all its upcoming shops, though it may vary depending upon the size and location of the shop. The facilities available in the shops would be standardised, said senior officials.
Each shop would be facilitated with visual and interactive technologies and virtual walkthroughs for prospective customers. Apart from serving information on range of projects including affordable, urban smart and ultra luxury homes, it would also offer online property booking facility, said S Ramakrishnan, CEO, Marg Properties.
The company is planning to develop 10,000 homes in an area of approximately 10 million sft in next three years. It has so far sold 2,500 homes in an area of around 2.5 million sft, he added.
