Chennai based MARG has launched its housing project - Utsav - on the East
Coast Road in Chennai. The foundation stone for the proposed project has already
been laid on 27 November 2009.
The Rs 100 crore project is likely to be developed on 18.4 acre in phased
manner in
Marg Swarnabhoomi, a SPV promoted by the company. In all, it is likely to
have 720 apartments of which 320 are to be developed under Phase I with
completion scheduled for June 2011.
While the land and pre-operative cost is being funded through equity, the
construction cost is expected to be funded in a phased manner through customer
advances.
Also See:
MARG
to raise funds for expansion projects (01-Oct-09)