SRM Engineering Construction Corporation Ltd. (SMECC), the construction arm of the SRM Group, has entered the real estate market with the launch of its first project — SRM Green Pearl — at Potheri near here, according to R. Ramkumar Chief Executive Officer.
He said the project would have 364 apartments and the location was close to commercial and educational centres. The residential complex would comprise well designed, 1-4 BHK apartments in stilt plus four floors.
The proposed commercial complex adjacent to the project would house a restaurant, mini-super market, swimming pool, gymnasium and meeting hall.
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Mr. Ramkumar said the company had major plans to offer turnkey services on various niche projects. It had a significant land bank in and around Chennai and had plans to expand this land bank. Newer projects were also under active negotiation and the company was planning major investments in this sector in the short and medium term.
The cost of flats would range between Rs.14 lakh and 30 lakh, he said and added that the company had received building plan for the project.