DLF has launched a residential project with 354 luxury apartments, making it the largest supply, in this segment, to hit the market at one go in the heart of Chennai. The project — Commander’s Court — coming up in Egmore on Commander-in-Chief Road, will have apartments of 1,600-2,600 sq ft and duplex units of 3,950 sq ft, priced at Rs 1.6-5.2 crore. These will be fully-fitted units which buyers will be able to move into, with their furniture, and settle down within a day, said K K Raman, executive vice-president and zonal head, DLF.
Even before the formal launch, Raman said, DLF sold nearly half the units in this Rs 900-crore project in a soft launch, at prices ranging between Rs 9,550 and Rs 10,150 a sq ft. The launch price has been pegged at Rs 11,650 a sq ft, apart from Rs 4-5 lakh for a basement car parking facility, floor rise of Rs 125 a sq ft more a floor for every level above the second floor, a preferential location price — for instance, a view of the landscaped garden — of about Rs 500 a sq ft. The apartments will be spread over five towers of three basements and 17 floors each, on a 4.6-acre plot. Buyers can expect to take delivery of their homes in 2013, he said.
Other facilities include a club, swimming pool, squash courts and a gym. Security features include smart-card access, video surveillance and CCTV in the parking area and entrance lobby. A unique feature will be a separate 10-floor block with 179 apartments that will serve as quarters for domestic staff, which the residents can lease from DLF. The lease will be valid as long as the residents own the apartments, he said. However, the lease details are yet to be finalised. This is DLF’s third project in Chennai after the 7.3-million sq ft IT SEZ and the 3,500-apartment DLF Gardencity at Thalambur, off the IT corridor.
The developer will soon launch more projects including a 300-acre township at Sriperumbudur, a large residential project on the IT Corridor and a mall at Velachery, a suburb in the south of Chennai, said Raman.
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