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DLF to invest Rs 2,500 cr in projects near Chennai
The DLF group is planning invest Rs 1,200 crore in a residence project meant for the mid-income group near Siruseri on the Old Mahabalipuram Road, south of Chennai, the company’s Executive Director – Southern Region, Mr J Subrahmanian told journalists here today.
The DLF group is planning invest Rs 1,200 crore in a residence project meant for the mid-income group near Siruseri on the Old Mahabalipuram Road, south of Chennai, the company's Executive Director - Southern Region, Mr J Subrahmanian told journalists here today.
The group has acquired 100 acres of land for this purpose, he said.
The project is one of the several that DLF is planning to put up near Chennai, the total value of which works out to around Rs 2,500 crore. While a few of the planned projects are yet to be taken up for implementation, a few others are underway.
The biggest among them is the IT Park at Manapakkam in the city, where it is constructing 7.2 million sq ft of space. The project cost Rs 1,500 crore, of which Rs 450 crore is yet to be spent.
Mr Subrahmanian said that the first phase (2 million sq ft) was fully occupied. The company is giving finishing touches for the 2.5 million sq ft second phase, which is getting occupied. Construction has begun for phase-3.
The group has acquired 100 acres of land for this purpose, he said.
