ASV Constructions, the Ch¬ennai-based property de¬ve¬loper focusing on IT parks and commercial buildings, has now fo¬rayed into developing residential space. It has launched a high-end lu¬xury residential apartment project Alexandriea on OMR, Chennai’s IT corridor. The project, to come up in an area of over six acre, is located close to the Sholinganallur junction and will offer 374 designer apartments in four towers of 17 floors each. While three of towers will have six apartments of 1,850 sq ft in each floor, the fourth tower will offer four ap¬artments of 2,750 sq ft in each floor, without common wall, thereby ens¬uring complete privacy, reports Financial Chronicle.
“In the past 10 years, we have been developing commercial complexes and IT parks of international sta¬ndards and occupied by Fortune 500 companies. Now, with OMR being de-clared as part of the city, we decided on developing a super luxury res¬idential enclave targeting the upm¬arket segment of people, who seek sheer luxury,” says Vaibhav Kamdar, director & CEO of ASV Con¬structions. “The project will be built on 20 per cent of the land area and will have 80 per cent open space,” he added.
The project will have top of the line recreational facilities such as club house with gym, aerobic hall, ba¬dminton and multipurpose courts, swimming pool and jacuzzi, steam and sauna bath, squash courts, virtual golf court, tennis court, cricket net, foot reflexology and other facilities that will include service apartments, mini mart, 24×7 security surveillance, 100 per cent wi-fi connectivity and CCTV cameras among others.
“The total cost of the project is estimated at around Rs 300 crore. While construction has already st¬arted, the residential units will be ready for furnishing by the end of 2014,” Bharat Khamdar, managing director of ASV Constructions said. The company has announced a la¬unch price of Rs 5,500 per sq ft.