Puravankara Group's Chennai Project
The Hindu - 11/4/2007

Chennai: Mumbai based property developer Puravanakara group has earmarked Rs 1000 corer for various projects in it proposes to take up in and around Chennai. The company has already disbursed Rs.500 corers for its various on-going projects in Chennai.

Addressing a press conference here on Tuesday Girish Puravankara DMD said company is launching its residential project at IT Corridor on OMR in Chennai.

Its 300 crore project was being built on 11 acres .The construction would begin around May .The project would go on a stream in about three years. Mr Puravankara said the new project, Purva Swanlake comprised 700 apartments.Each apartment would have two or there bedrooms with an area ranging between 1250sft and 1750 sft. The price of these apartments would range between Rs.3400 and Rs.3800 per sft.. The project would be executed in a phased manner. In the first phase nearly 30 per cent of the apartments would be ready for occupation he added.

He said the company, which has been rated by Crisil as an outstanding developer and is ISO 9001 certified, had so far undertaken projects measuring 15 million sft. and was having projects for another 60 million sft. .Purva Swanlake would be the first residential project in Chennai .The company had already taken up two commercial projects for IT companies in Chennai.

Mr. Puravankara said the company had a joint venture with Keppel Land of Singapore Along with Keppel the company was doing a few projects.

Banaglore based realtor Puravankara Projects Ltd has announced their plan to promote a 300 Cr standalone project in Chennai’s IT corridor. It is also in the process of creating a land bank for promoting large residential townships around the city. Puravankara’s first residential project in OMR Chennai’s IT corridor named Purva Swanlake will offer over 600 apartments of 2 and three bedrooms. It has acquired about 10.6 acres in Kelambakkam in the IT corridor for the project.