Isha Homes, a fast-growing property developer in Chennai, has set its sight on tapping the market potential for budget homes.
Spread over 5.91 acres near Medavakkam, a southern suburb of Chennai, Isha Yara will offer 460 flats with a total built up area of 4.28 lakh square feet. It will offer a mix of 2 BHK of 1,198 square feet and 3 BHK of 1,235 square feet. While the first phase will see development of 240 flats, the second phase will offer another 220 flats and will include 1 BHK.
“A small study of the market surprised us, as more and more people were preferring to buy 3 BHK flat, instead of 1 BHK. Had we known this well ahead, we could have accommodated more 3 BHK in our Yara offering,” said Suresh Krishna, managing director, Isha Homes. The company is offering these budget homes at an inaugural price of Rs 2,800 per sq ft, which will be a limited period offer. The first phase construction will be completed and flats will be handed over latest by December 2011.
Isha Yara will provide amenities like clubhouse, which will have a basketball court, shuttle court, gymnasium, library and a multi-purpose hall. In addition, there will be a children’s play area, a skating rink, party lawns with gazebos and a jogging track. All flats are vaastu-compliant and the flats have been so designed to ensure maximum natural lighting and cross-ventilation. The project will offer CCTV-backed security system. These gadgets will be installed in the very beginning of the project, enabling the customers to witness on the net from time to time the progress of construction
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