Chennai: The Prestige group, one of south India’s foremost real estate developers, announced their association with the Rattha group in Chennai by signing a joint development for an integrated residential township project in Porur near Chennai.
The cost of the township’s development, spread across 4 million sq ft, will be approximately Rs 1,000 crore.
HS Rattha, MD, Rattha Group said, “This alliance was forged keeping in mind Prestige group’s track record for large-scale landmark developments. The Chennai residential market is growing rapidly but there is a increasing need for integrated and self-sustained townships. This prompted to plan this development with the Prestige group.”
Irfan Razack, chairman and managing director, Prestige group said,”This project will be a land mark development in Chennai, targeted at the larger housing requirements of the city market and will be provided with all modern facilities, amenities, includinga school. We aim to complete the township project in four years.”
With the growing urban population in India, townships are becoming the order of the day. With the hub of Chennai getting more and more saturated, people are moving towards suburban areas and satellite towns. Hence, the need for integrated townships which can provide all facilities such as schools and hospitals.
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