The launch price will be Rs.11,650 per sq. ft.
Real estate promoters DLF Home Developers Limited will be launching Rs.900 crore-luxurious residential project in the heart of the city. The project will come up in 4.6 acres in the centrally located at Commander-in-Chief Road (Ethiraj Salai) at Egmore in Chennai.
This will be DLF's third major project in Chennai, according to K.K. Raman, Executive Vice-President and Zonal Head, DLF Home Developers. The first project was the 7.3 million sq. ft., information technology special economic zone at Manappakam. More than half of the project was completed and occupied and the balance was under construction. The second project was a residential integrated township project, DLF Gardencity, at OMR, Chennai.
Mr. Raman said the Egmore project would have three basements for car parking and the complex would have five towers of 17 floors each. The apartments were being grouped into four sizes of about 1,600 sq. ft. and 1,900 sq. ft. with three bedrooms, around 2,600 sq. ft. with four bedrooms and duplex of around 3,950 sq. ft. The complex would have an exclusive club for the residents with swimming pool, squash courts, gym and other facilities.
The complex would have self-contained servant's quarters block containing 176 units in which only personal domestic servants or personal drivers of the residents would stay.
The total number of apartments would be 354, out of which 150 had already been booked during the pre-launch stage.
The launch price will be Rs.11,650 per sq. ft., with a floor price of Rs.125 per sq. ft. per floor. Apart from this the company would charge Rs.500 per sq. ft. for garden view and the parking area would be around Rs.4-5 lakh per car parking depending on the basement. Roughly the price of the apartments would range from Rs.1.70 crore to Rs.3.50 crore.
Mr. Raman said these complexes would be “plug and live” apartments. These luxury apartments would have fully-fitted kitchen, Jacuzzi in master bedrooms, wardrobes in bedroom and central air-conditioning in every apartment. DLF had four more projects on hand, which would be completed in the next three years. It would be a combination of both residential and commercial.
These four projects would include a mini township on 300 acres in Sriperumbudur, a 100-acre project in Siruseri, a 6-acre project on the OMR near Sipcot and a mall in Velacherry.
The total outlay on the projects would be nearly Rs.8,000 crore.