Bangalore-headquartered Sobha Developers has announced its foray into Chennai residential market by launching two ventures with a combined project size of over Rs 400 crore. The company managing director, J C Sharma, announced the launch of Sobha Merrita and Sobha Serene at Kelambakkam and Porur on the city outskirts, respectively.
This was the second residential project by the developer in the state after its projects in Coimbatore though the company was executing “contractual projects” for IT firms Infosys and Dell in Chennai, he told reporters.
Coming up over six acres with various amenities, Sobha Meritta has a project size of Rs 300 crore, T P Sanjaya Sarathy, regional director of the firm, said.
He added that Serene has a project size of Rs 120 crore and coming up at Porur over 3.15 acres.
There was “overwhelming response to the soft launch and good buyer interest’’, he said, adding that the company was looking at implementing various projects, including villas in Chennai.
According to a company release, Sobha Developers had completed 73 real estate and contractual projects as of September 30, 2011 with a total developed area of 47.37 million sq ft.
“We currently have 45 ongoing real estate projects in six cities across the country,” it said