New Marimalai township project to have 10,000 homes

Chennai:

Ten thousand new homes are expected to dot Marimalai Nagar soon following an integrated township project coming up in 140 acres of land.

Addressing a press conference at the Express Avenue on Friday, Sheltrex Housing chairman Rajesh Krishnan said the township would offer smart homes integrated with technology and urban design and each would be priced at around Rs 15 lakh.

Krishnan said the township is master planned and designed by renowned architect Hafeez contractor, who has also designed Mahindra World School in Chennai and Infosys campus in Bengaluru. He said the township would not only offer unparalleled range of amenities like schools, malls, clubs, coffee shops but will also create a positive ecosystem for neighbourhood and community.

The project is launched with a working capital of $5 million, said Krishnan, adding that all the approvals are in place. Interestingly, Sheltrex is invested in by ‘Brick Eagle’ a private equity fund headquartered in Hong Kong.

Earlier, an exact full size replica of the 675 square feet actual house was unveiled at the Express Avenue. Each house will have two bedrooms, two toilets, kitchen, living room and a car park spanned across a total construction area of 526 square feet to 675 square feet.

Krishnan said the Sheltrex has a vision to launch eight new projects spread over 2000 acres in major cities across India. The bookings for Marimalai project starts from March 15.