True Value Homes announces Rs 600-cr premium apartment project

CHENNAI: Real estate developer True Value Homes India today announced a Rs 600-crore super premium apartments project ' Quadrant' in the city.

The city-headquartered company would commence construction activity on the 18-storeyed building this week, company's Chairman N Ravichandran told reporters here.

"Quandrant will have about 100 units with a size of 2,000 sq ft to 4,000 sq ft. It will be completed in three years", he said.

Noting that the demand for such apartments in a city like Chennai was much more compared to other cities, he said the price of apartments range between Rs 3.5 crore to Rs 6 crore.

Commenting about their ongoing projects, Ravichandran said the first phase of 'Ouranya Bay', the residential project coming up on the IT Corridor, was completed.

"The first phase has about 320 apartments," he said and added that second phase would be completed in another five months.

"The value of this project is also Rs 600 crore," he said.

On the company's upcoming luxury projects in the city -- Batikka and Satvikka -- he said the projects, valued at Rs 55 crore, was almost "nearing completion".

About their budget home project 'Svaya' at Sriperumbudur near here, he said it consists of 500 units and "70 per cent of the project is sold out."