800 residential property in Chennai will be developed by Lancor Holdings
Chennai-based real estate developer, Lancor Holdings Limited has planned to invest around Rs 300 crore in the next two years to develop around 800 residential units in Chennai.
Lancor Holdings so far developed around 3 million sft with focus on residential space. Their new planning will construct five projects in and around the city to add 2.5 million sft in the near future.
Last year the company had invested around Rs 150 crore in building up the land bank in Chennai and surrounding locations. The new proposed project will come up in the same land bank acquired last year.
Lancor Holdings currently has a land bank of 120 acre in and around Chennai. However, currently the builder has no plans to raise funds externally, and will mainly rely on internal accruals for investments.
The company will start the new launches with a 150-unit apartment project, Towns Ville, at Sriperumbudur near Chennai in June this year. It is also developing a 450-unit villa project, Town & Country, at Sriperumbudur in collaboration with land owners.
The project pipeline of the company is leading towards executing projects to reach a turnover of around Rs 2,000 crore in the next four years and to develop six million sft in the next six years.
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Source: Business Standard
Lancor Holdings Limited, land bank in Chennai, residential space, residential units in Chennai
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