Emaar MGF, a joint venture between Emaar of Dubai and MGF of India and a leading real estate development company, expanded its presence in Chennai with the launch of The Avenues on Tuesday. Wilson Mathews, Head, Sales (South), Emaar MGF, said 'The Avenues' was part of Esplanade, one of the largest residential projects (14 acres) at Tondiarpet in north Chennai. The ultra-modern 2 and 3 bedroom apartments ranging from 1,424 sq. ft to 1,715 sq. ft. at Esplanade (phase I) are nearing completion. Out of 16 towers in phase I, 12 are nearing completion and 300 apartments are being handed over. Work is in progress in the remaining four towers. Mr. Mathews said there was compelling market demand for apartments in the mid-segment residential market. The Avenues (phase II of Esplanade) was targeted at the growing mid-segment market with a price tag of Rs. 29 lakh a unit. The apartments comprise six towers and 200 plus apartments with two and three bedrooms, range from 975 sq. ft to 1,450 sq. ft.
He said The Avenues was the only project in north Chennai that has a club house of about 6,000 sq. ft. with a gym, swimming pool and other facilities. It was scheduled to be completed by 2012.
