The company is planning to build a Rs 210-crore residential project on the land accruing from the acquisition. The total area floor space of the project would be around 6-7 lakh sft.
The Chennai-based real-estate developer has also identified three more residential projects, including a 70-villa project, each of which would cost Rs 3 crore. Located on the East Coast Road, the project would involve a total investment of around Rs 2,100 crore. It is also planning a premium project at Tiruvanmiyur with an investment of around Rs 50 crore and another residential project with a similar investment at Kilpauk.
The company is executing projects worth Rs 870 crore, some of which are Chennai's costliest premium apartments, with each flat costing around Rs 8 crore.
Jain added the company was also planning to re-launch its water business in the city. Currently, the company has a unit at Porur with a capacity of around 70,000 litre a day, which he said woud be increased to 1.5-2 lakh litre. “We don’t need major investment in the expansion, all we need is just additional machines,” said Jain.
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About Company :
For over two decades, Chennai, South India's largest City has witnessed a dramatic transformation in it's people's lifestyle. We, at Vijay Shanthi have been privileged to play a constructive role in this mammoth evolutionary exercise. We are a professionally managed company that has placed client satisfaction above all else. We have a commitment to excellence that greets our customers at the doors of every Vijay Shanthi home, each day of the year.