Lancor Holdings intends to invest in development of residential units in Chennai.
The company will invest Rs 300 crore to develop around 800 residential units in Chennai by 2014. It is planning to launch five projects in and around Chennai to add 2.5 million sq ft in the near future. The projects are to be funded through internal accruals. The company currently has a land bank of 120 acre in and around Chennai.
To begin with, the company will launch a 150-unit apartment project - Towns Ville - at Sriperumbudur near Chennai in June 2012. The other projects are coming up in and around Chennai at Guduvanchery, Nanganallur, Valsaravakkam and Sholinganallur. It is also developing a 450-unit villa project - Town & Country - at Sriperumbudur in collaboration with land owners.