CSEPL to construct 10,000 hi-style houses

Chennai, Nov 3 (UNI) City Square Enterprises Private Limited (CSEPL), leading developer and promoter of Gated communities (townships), would be constructing about 10,000 hi-style houses in six cities across India over a period of next three to four years.

The houses would be constructed by White Stone, a division of the CSEPL, at Mumbai, Pune, Bangalore, Hyderabad, Chennai and Coimbatore where the land acquisition formalities had been completed.

About 75 per cent of the houses had already been booked, CSEPL promoter N M Reddy told reporters here today.

Stating that the works would be taken up in three phases, he said in the first phase, CSEPL would take up land infrastructure like providing power, water, sewerage, black tops and playgrounds. Then the house construction works would be taken up by White Stone, which would be formally launched in Chennai on November five.

The customers could select a model of their choice from the 60 models available with the White Stone, which was known for developing international living concepts, and each house, with a built up area of 2000 sq ft, would cost around Rs 30 to 34 lakhs.

In the third phase the completed house would be handed over to the property management or the society formed by the house owners.

Mr Reddy said had had been acquired in two projects in Coimbatore where 1100 houses would be constructed in a total 122 acres, while CSEPL would construct around 800 houses. The projects would come up at Sriperumbudur (250 houses), Poonamallee (107 houses in first phase and 150 in second) and near Mahindra City near Chengalpattu (300 houses).

He said with the government's announcement to set up IT parks, the land rates had boomed during the last days in Coimbatore, where the projects would be launched next month.

Similar projects would be taken up at Mumbai, Pune, Bangalore and Hyderabad also.

UNI GV JJ 1740