Marg Properties To Launch Rs 563 Crore Residential Project In Chennai
Marg Properties, the residential arm of Chennai-based real estate and infrastructure development firm Marg Ltd, is planning to launch residential projects worth a sale value of Rs 563 crore in Chennai in the near future.
“We are planning to add around 3,000 homes through new projects and expansion in some of the ongoing projects, this year,” said S Ramakrishnan, CEO, Marg Properties.
The company has identified growth corridors like the Old Mahabalipuram Road (OMR) and the East Coast Road (ECR) in Chennai, as potential areas for real estate investments. As a result of which the pipeline includes an Rs 284 crore project in OMR, an Rs 213 crore project in East Coast Road (ECR) an Rs 66 crore in Kazhipatur, in Chennai. In the current fiscal, the company has already announced launch of Kalpavriksha, a residential project in Old Mahabalipuram Road (OMR) at a project cost of Rs 42 crore, according to company executives.
The company is targeting a total of 10,000 homes to be completed by 2013-14. The company plans to explore joint venture opportunities with property owners for some of its future projects.
As part of brand promotion, the company has earlier launched Marg Properties Shoppe, outlets where potential buyers could visit and gather information about the real estate scenario in Chennai and details of Marg’s real estate projects. It has also introduced a mascot for the company, in order to build brand awareness.
The company has reported revenue of Rs 330 crore in 2010-11 including from it’s some of the ongoing projects and targets to end the current fiscal with revenue of around Rs 500 crore, said company officials.
Marg Swarnabhoomi incarnates the spirit of life and brings inclusively, interconnectivity, hope and the promise of the future. Spread over a 1000 acres, MARG Swarnabhoomi is away from the hustle and bustle of the today’s cities. The city boasts of a fully functional residential complex, shopping malls, recreation centres, sports facilities, knowledge centres, wellness centres, a golf course and a theme park as well. To not beat around the bush, MARG Swarnabhoomi is the perfect place to live your life.
About Marg Properties
MARG ProperTies the residential arm of MARG, India’s fastest growing infrastructure company provides value enriched homes and builds everlasting relationships.
This underlying philosophy reflects in everything that MARG ProperTies does. Right from features like upgrading to a better home, to getting the assured carpet area and even with the simplest things like providing assistance in selecting home furnishings from our exclusive shortlist of associates – the home seekers interests always get high priority.
MARG ProperTies has something to offer for everyone, showcasing a range of living spaces from functional budget apartments to super luxury villas. Choose from a wide range of options to fulfill your home aspirations and move to a home of your dreams.
MARG ProperTies operates with a high degree of transparency and has built reliable ties with architects, financial institutions, vendors, consultants and stakeholders. This enables us to attract global partners and use state-of-the-art technology to consistently deliver the best.
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