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Empee enters realty sector

Empee Group, which is currently into the businesses of hospitality, liquor, sugar and power, is preparing to venture into the real estate sector.

Initially, the focus would be on residential projects. The company would start two projects on a land bank of around 20 acre. It is planning to set up two residential projects with an investment of around Rs 400 crore in Chennai. The projects include 1.25-million project comprising around 800 house units and the other with 250,000 sq. ft.  with around 200 units.

The projects target the medium-segment customers, are expected to go on stream by the end of 2012. The spokesperson stated that the location of the land bank and its access to the highway and the main road would lend them an advantage in terms of quick response from buyers.

To read more real estate news:

Corruption to be blamed for high prices in Mumbai realty sector

Source: Business Standard

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