The South Asian Real Estate (SARE) has announced a Rs 500-crore residential township at Kolathur, GST Road, in Chennai. The township, on 61.4 acres of land, will have 608 apartments, 460 villas and plots. The total project is expected to be completed in three phases, with Phase-1 scheduled for completion within 18 months from date of commencement of civil works. It is the second project of the company in Chennai. The company has its focus on middle income customers and has priced the apartments from Rs 15 lakh onwards.
Arvind Pahwa, CEO of SARE, said, "We as a company are very focused on our customer aspirations. We are open to looking at further investment opportunities in and around Chennai."
So far, it has raised Rs 2,000 crore and invested in 6 projects representing approximately 34 million sft of developable area.
