Binny has entered into the real estate space and plans to set up an Integrated Township within the Binny Mills complex in Perambur, Chennai. The 71 acre project will be set up through development agency model, with an investment of Rs 5,000 to Rs 6,000 crore.

The dilapidated mill building will be demolished for this project and work is expected to commence by the second half of 2015.

As per the plan, 80 per cent of the township will be residential in nature and the remaining 20 per cent would be commercial. It will have a mall, hospital, school and there will be retail activity too.

The board of directors of the company has given a nod to the proposal. It has also authorized Mr. Nandagopal and Arvind Nandagopal, managing director to finalise and execute the Development Agency Contract.

On completion of this project, it would be the largest township in Chennai. At present, the 42 acre Metrozone Township by the Ozonegroup in Anna Nagar is the largest project in the city.

More Project Info:

Township (Perambur) Project