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ETA Property plans investment in various projects

Wednesday, 21 Apr 2010
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ETA Star Property Developers proposes to pump in around Rs 750 crore in various residential and commercial projects across Tamil Nadu and Karnataka in a span of next three years.

Presently, the company is scouting for JV partners for developing residential and commercial projects at Coimbatore and Trichy in Tamil Nadu.

The company is currently building a commercial complex at Mount Road in Chennai. It has floated a SPV - Anand City Centre - for the project, which spreads over 2,50,000 sq ft and is estimated to cost Rs 200 crore. The project is slated to be completed by July 2012.

The company has acquired land on the Greenways Road junction for building 50-55 units with 15 floors. The project is estimated to cost around Rs 120 crore and each unit will be spread over 2,500-3,000 sq ft.

The company is also developing a similar project -- Beau Monde -- in Bangalore with an investment of Rs 40 crore. At Karanai, on the Old Mahabalipuram Road, ETA is developing a 516-unit residential project with an investment of Rs 150 crore.

ETA is also in the process of launching a project worth Rs 160 crore at Sriperumbudur in May 2010. Here, the company is planning to build 400 flats targeting the mid-segment.

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