Lanco to develop township in Chennai at Rs 600cr

New Delhi, June 11 (UNI) Lanco Infratech Ltd today said its wholly-owned subsidiary Lanco Horizon Properties Pvt Ltd will develop a Rs 60 crore integrated township on a 47.58 acres of land in Chennai.

The property will consist of residential towers, shopping space and service apartments with a built-up area of four million square feeet within 36 months from approvals, a company statement said.

Lanco Horizon has signed a joint development agreement for the purpose and will decide on a partner for the project soon, it said.

The township is located near SIPCOT Industrial Estate, Siruseri on Old Mahabalipuram Road, Chennai.

The Lanco group is already developing a 100-acre technology park in Hyderabad.

UNI