📋 Tender Overview
Scope : Developing a Luxury High-Rise Apartment Community in Chennai, Tamil Nadu
Urbanrise, an Alliance Group company will invest Rs 700 crore for developing a two million sq. ft. luxury high-rise apartment community in Chennai.
The real estate developer has acquired 9.24 acres of land parcel from Mahindra Life Spaces (MLDL) at Mahindra World City (MWC), Chennai for the purpose.
The development will comprise 2,000 plus units, spruced up with futuristic and innovative amenities, and will cater to the requirements of the home buying community in and around MWC on GST Road. Construction work is expected to commence in August, 2023.
With price points in the range of Rs 45 lakh to Rs 90 lakh, the project has an estimated revenue potential of Rs 1,200 crore.
The project is expected to be completed by 2026.
