Ambitious township plans for Chennai
An ambitious plan to develop several integrated townships on the outskirts of Chennai with an investment of Rs 1 lakh crore over the next few years has the city abuzz these days.
This huge volume of investment is likely to change the way the people of Chennai live, as these integrated townships will come up in almost every suburb and bring in a Western model of modern living.
For instance, the city's first integrated township is going to come up in Ambattur, on the outskirts of Chennai. The township, planned on 23 acres of land, will comprise an IT park spread over 2.5 million square feet, a 1.6-million-square-feet mall, a four-screen multiplex and as many as 1,100 apartments.
This township is likely to be completed within the next two to three years.
This will ensure work, home, entertainment and shopping all within the same campus. And that's the model for about 15 similar integrated townships coming up in and around Chennai. Real estate developers say they are targetting widely travelled couples.
"They have lived abroad and have experienced the lifestyles there. So they would want the lifestyles of the West to be brought in here," Manoj Namburu, MD of Alliance Infrastructure, says.
The projects will cover an area of 6,000 and 7,000 acres and along with the lifestyle they will also change the landscape of this city forever.
Real estate developers say the projects will cost nothing less than Rs 1 lakh crore. The largest of these townships will be a 2,500-acre project to be developed by Parsvanath Developers.
Sahara Housing will be developing a 1,000-acre township, ETA-Star will develop 1,200 acres, Hiranandanis 140 acres and Alliance 23 acres.
Experts say all these projects are going to be snapped up in no time. More than 10 lakh techies and their families are expected to come to Chennai in the next few years and with the townships sitting on the outskirts of the city, they will help ease the pressure on Chennai's overstretched infrastructure.
"You'll not only have residential premises. You'll also have things like schools, shopping malls, entertainment parks and some amount of commercial space. So, for a family that lives there, they don't really need to go out of the confines of the township for their day-to-day requirements," N Ananthanarayanan, Associate Director, Trammell Crow Meghraj, pointed out.
via [www.ibnlive.com]
This huge volume of investment is likely to change the way the people of Chennai live, as these integrated townships will come up in almost every suburb and bring in a Western model of modern living.
For instance, the city's first integrated township is going to come up in Ambattur, on the outskirts of Chennai. The township, planned on 23 acres of land, will comprise an IT park spread over 2.5 million square feet, a 1.6-million-square-feet mall, a four-screen multiplex and as many as 1,100 apartments.
This township is likely to be completed within the next two to three years.
This will ensure work, home, entertainment and shopping all within the same campus. And that's the model for about 15 similar integrated townships coming up in and around Chennai. Real estate developers say they are targetting widely travelled couples.
"They have lived abroad and have experienced the lifestyles there. So they would want the lifestyles of the West to be brought in here," Manoj Namburu, MD of Alliance Infrastructure, says.
The projects will cover an area of 6,000 and 7,000 acres and along with the lifestyle they will also change the landscape of this city forever.
Real estate developers say the projects will cost nothing less than Rs 1 lakh crore. The largest of these townships will be a 2,500-acre project to be developed by Parsvanath Developers.
Sahara Housing will be developing a 1,000-acre township, ETA-Star will develop 1,200 acres, Hiranandanis 140 acres and Alliance 23 acres.
Experts say all these projects are going to be snapped up in no time. More than 10 lakh techies and their families are expected to come to Chennai in the next few years and with the townships sitting on the outskirts of the city, they will help ease the pressure on Chennai's overstretched infrastructure.
"You'll not only have residential premises. You'll also have things like schools, shopping malls, entertainment parks and some amount of commercial space. So, for a family that lives there, they don't really need to go out of the confines of the township for their day-to-day requirements," N Ananthanarayanan, Associate Director, Trammell Crow Meghraj, pointed out.
via [www.ibnlive.com]
