Arihant buys three-acre prime space in Perungudi
A Chennai-based real estate player, Arihant Foundations and Housing Ltd., has chosen a three-acre land parcel on MGR Salai in Perungudi to develop a residential project. According to industry sources, the land value alone was around ₹300 crore.
A Chennai-based real estate player, Arihant Foundations and Housing Ltd., has chosen a three-acre land parcel on MGR Salai in Perungudi to develop a residential project. According to industry sources, the land value alone was around ₹300 crore.
'Arihant has signed a joint development, and this project will have a gross development value of approximately ₹1,200 crore,' the source said.
It is learnt that Arihant is planning to come up with a high-rise residential project featuring 35 to 40 floors. Upon completion, it is poised to become the tallest building in the area.
'The project will cater to the IT and start-up crowd in that area, which is surrounded by major IT parks, such as DLF, RMZ and SP Infocity,' the source added. Hundreds of start-ups have mushroomed in this area, which also houses consulting firms and digital marketing companies.
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