One more Prestige-Rattha's mega residential project in Chennai

Chennai: To meet the ever growing demand for affordable housing in Chennai, which has been witnessing boom in construction-related activities for the last few years, Bangalore-based real estate group Prestige has joined hands with the city-based Rattha group to promote a mega residential apartment project here at an outlay of around Rs 800 crore.

The project has 600 single bedroom apartments targeted at the first time apartment buyers apart from having other dimensions too.

Without divulging the location of the site, Irfan Razack, chairman and managing director of the Prestige Group, said, the project, spread over 25 acres, will have 2,613 units comprising of single, double, triple and four bedroom apartments. The project, to be completed in three years' time, would be implemented jointly with Rattha group that has offered the land, reports IANS.

The two groups have been jointly promoting several projects in Chennai with notable one being an integrated residential township project at an outlay of around Rs 1,000 crore. The project spread over 25 acres in prime Porur area has a built-up area of 4 million sq ft. The group has already involved in three more projects in Chennai viz. Somerset Greenways, Citadines Boulevard and Citadines in OMR. The group has also set its target to develop 6000 serviced apartments in Amristar, Cochin, Calcutta, Mumbai, New Delhi, Jaipur and Thiruvanandhapuram.

Rattha group has plans to promote 30 fully serviced residence properties in India over the next 5 years. These luxury serviced apartments property features studios, one bedroom and two bedroom. They’re the kind of luxury, furnished apartments corporate travellers dream of. And, whether it is for short term accommodation, vacation apartments or extended stay apartments, they are an extremely attractive alternative to any hotel.

The Rattha Group has also involved itself in the conceptualising and development of Special Economic Zones. Estra IT SEZ is located in the key locality of Porur in Chennai. This SEZ is spread across 26 acres of prime real estate, covers over 4.5 million sq ft and includes a host pertinent features that will become benchmarks for all SEZ's to come. The Master Plan of this SEZ is being done by HOK, USA - One of the best Master Planners in the world.

In 2006 Rattha Group had phased itself into the hospitality sector. The Group has partnered with the Singapore based Ascott Group, a world leader in Serviced Residences in the Asia - Pacific, Europe and Middle East regions. This strategic move of partnering with a world renowned leader in the hospitality sector has enabled Rattha Group to change the way people look at the hospitality industry in India, according to Rattha Group's website.