Gated community project planned at Sriperumbudur

September 9th, 2008 - 7:22 pm ICT by IANS  

Chennai, Sep 9 (IANS) The Rs.300 million Mahidhara Projects Pvt. Ltd is planning a 125-acre gated community project at Sriperumbudur near here, a top company official said Tuesday. “The project will have a mix of apartments, independent villas and even an IT park apart from an auditorium, play area and other amenities,” company vice president Kishore K. Shetty told reporters.

He said work would begin within a month or two of the company getting approval for the project.

According to him, Mahidhara Projects is also looking for land to develop projects in Bangalore and Mysore.

Meanwhile, Shetty said, the under-construction Mahidhara Capital project - involving sale of plots as well as developing duplex and single-level independent houses - on a 10-acre plot at Sriperumbudur is on schedule.

The first phase consists of 56 plots and the company is in the process of laying roads.

“We have sold 34 plots and the remaining 22 will be sold soon,” he said.

Work on the second phase involving 72 plots will start once Mahidhara gets the necessary approvals.

While the plot is sold at Rs.660 per square feet, duplex houses are priced in the range Rs.3.1 million to Rs.3.6 million and single level houses at Rs.2.6 million and Rs.2.9 million.

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