ETA Star foreys into Chennai realty market

Chennai, Apr 12: The Dubai-based ETA Star Property Developers today announced its entry into Chennai realty market with the launch of its first residential property venture at suburban Kaattupakkam.

Company MD Syed Ismail told reporters here that the new project "Jasmine Court," will come up in a sprawling 4.4 acre residential complex with all facilities.

He said the company would also construct an integrated township in a 1200 acre area at Sriperumbudur, which had become the industrial hub of Tamil Nadu.

''The Rs 12,000 crore project to be ready in 18 months time, will consist of individual bungalows, apartments, IT areas, shopping malls, a 18-hole and mini golf courses, cricket stadium, basketball courts, school and medical centres.'' ''We hope to create about five crore sq ft built up area and about 250 acres of the total area had already been acquired. The remaining areas will be acquired in another six months.'' He also announced that ETA Star is developing a three million sq ft IT park at Old Mahabilipuram Road (OMR) on the IT corridor.

UNI