Pune based Vascon Engineers Ltd, is investing Rs 2000 crore to develop a 105 acre township in Chennai in association with Balakh Realtors Pvt Ltd. The company would be developing around 10 million sq ft in four phases over a period of six years.
Vascon already has presence in Chennai as an EPC player, building Block-B of Tamil Nadu Assembly Complex . According to R Vasudevan, managing director of Vascon Engineers Ltd, "Real estate development in Chennai has witnessed several transformations over the past four to five years. The resultant flood of working professionals and their families, complete with residential and shopping demands has increased the potential of urban development in the area. We see great real estate potential in Oragadam".
He added, "Vascon made their foray into the South Indian real estate market in Coimbatore just three months ago with their project – ‘Tulips’. The roaring success and the warm welcome that Tulips received has made us confident to venture into a project of this magnitude."
