Urbanrise South India’s Real Estate Developer has acquired 96.5 acres of prime land parcel at Tambaram, Chennai from Vees Properties Limited. The company is all primed to develop a mega township project in the land area that has a development potential of 13 mn sq. ft with an expected revenue of Rs.7,000 crores.
Set on a rapid expansion spree, Urbanrise (an Alliance group company) has been acquiring large tracts of land in premium locations across Bangalore, Chennai, and Hyderabad markets, aimed at developing its residential projects for the aspiring home buyers. The latest addition to this growth plans is the acquisition of 96.5 acres of premium land parcel at Tambaram, one of Chennai’s fastest developing residential hubs.
Manoj Namburu – Chairman & MD of Alliance Group & Urbanrise said, “We are extremely happy in acquiring this huge land parcel owing to rapid growth of the Tambaram locality which is fast emerging commercial cum residential hub of Chennai, and it also gives us the opportunity to cater to the burgeoning population of Tambaram micro-market. We are looking at developing an integrated township with world-class amenities which will ensure that the project becomes a landmark and an address that the residents would love to flaunt”. Such large-scale projects will help Urbanrise/Alliance in propelling our annual sales to Rs.10,000 crores sales per year soon and put us amongst the elite club of developers.”
