L&T to build $300 mn township in Chennai

Engineering and construction firm Larsen and Toubro Ltd (L&T) will promote a 100-acre integrated township project on the outskirts of Chennai at a cost of Rs 12 billion, a top company official said in Chennai.

"This is our second integrated township project in Chennai. Named as Eden Park, the project will be developed in four to five phases," K. Venkatesh, executive vice-president, developmental projects division, L&T-ECC, said in Chennai.

ECC is the construction division of L&T.

According to current cost estimates, the project would cost around Rs 12 billion and would come up at Siruseri on the outskirts of Chennai.

The project will be promoted by L&T South City Projects Ltd, which in turn is a joint venture between L&T Urban Infrastructure Ltd, Dinesh Ranka Associates and Pragnya Trustees and Investment Co.

The first phase, to be started soon, consists of 656 apartments (two and three bedrooms) to be built over 14 acres.

According to Venkatesh, the first phase will consist of eight blocks with 14 floors each and will be ready in two and half years.

The two-bedroom apartments would measure around 1,200 sq ft while the three-bedroom flats will be of around 1,900 sq ft.

He, however, declined to comment on the prices of the apartments.

Queried about the progress of L&T's first integrated township project Estancia in the city, he said, "The final designs have been frozen. The project has got most of the legal sanctions."

L&T is promoting the Rs 15-billion Estancia project partnering another city-based construction group Arun Excello.

News Source : Samachar