Mumbai-based developer house of Hiranandani will begin constructing Chennai's tallest building, which will also be South India's tallest tower.
Topping out at 161 meters this project will house 245 apartments. It will occupy pride of place at the developer's 120-acre township on Chennai's IT expressway.
Going by these stats, the tower called Anchorage will dwarf Bengaluru's Mantri Pinnacle and Hyderabad's Lodha Towers.
“This particular building will be a total project value of about Rs 375 crores, and it will be funded internally. We are a zero debt company, and we are confident that we will be able to build it well," said Surendra Hiranandani, Founder & MD, house of Hiranandani.
Anchorage is just one slice of the developer's big plans for South India, which involves adding 2.5 million square feet to its residential footprint in Chennai, Bengaluru and Hyderabad by 2018. Commercial projects are also on the anvil, and should gain visibility over the next 12 months.
"We have a very good commercial property segment in the Mumbai Metropolitan Region (MMR), a significant presence there. And we want to take this presence to Pune, Bangalore and Chennai," Hiranandani said.
For now, though, the developer is focusing on completing its newest skyscraper within its own 60-month timeline and the distinction of having changed Chennai's modest skyline is just icing on the cake.