Developers' JV launches 2 projects in Chennai

13 Apr 2013 CW Team

To float a joint venture for residential projects in Chennai four real estate developers based in Coimbatore have come together. The joint venture company MMRF Realty & Infrastructure has launched two residential projects in Chennai and more are in the pipeline, according to Ramesh Bafna, Director, MMRF Realty, one of the partners who also heads Mount Housing & Infrastructure in Coimbatore.

The other partners in the venture are Mayflower Enterprises, Ramani Realtors and Fairyland Foundations. The two projects, which are located on OMR, are: Sai Enclave, an apartment block and Vista Oceana, semi-independent luxury villa. Sai Enclave will offer apartments of Rs 28-47 lakh, about Rs 3,600 a sq.ft, with apartments ranging from 700 sq.ft to over 1,300 sq.ft. Over 44 units are coming up in the project spread little over one acre. The project offers modern amenities including power backup, fitness centre and play area.

Vista Oceana, at Padur, close to the Muttukadu backwaters, offers 19 semi independent villas of three-bedrooms each. The sizes range from about 2,400 sq.ft to 3,200 sq.ft and are priced from Rs 1.45 crore to Rs 1.76 crore. The developers are planning to launch a 25-acre township later this year with over 450 apartments on a seven-acre plot, he said.

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