Bangalore-based real estate company Ozonegroup has launched an integrated development project, The Metrozone, in Chennai at an estimated cost of Rs 2,500 crore.

Spread over 42 acres in Anna Nagar, The Metrozone would consist of apartments and penthouses and commercial space for hospitality, retail and offices. The project is scheduled to be completed in about 52 months, with the first phase of residential apartments scheduled for handover in 36 months.

Giving details about the funding of the project, S Vasudevan, managing director of Ozonegroup, said, “Of the Rs 2,500 crore investment, Rs 500 crore would be the debt component, which is being provided by a State Bank of India-led consortium."

The Metrozone is being developed as a self-contained township with over 1,600 residential units spread across 29 towers (25 towers in first phase) with G+16 structure. The project also set aside 1.2 million sq ft for a commercial complex, including a mall, multiplex and office space. Residential units would be priced between Rs 95 lakh and Rs 1.5 crore. The Metrozone would also provide parking space for 6,000 cars at three basement level slots and would have the largest private piped gas network.

According to Sudarshan K S, chief operating officer of Ozonegroup, “To enhance the quality of construction, Ozonegroup will be adopting a concrete wall design using metal formwork. The company is investing significantly to make all projects environment-friendly, with rain water harvesting, solar/heating and lighting, waste optimisation and other green features.”

The project would have an exclusive 60,000 sq ft clubhouse that would offer an array of leisure and recreational facilities, including a state-of-the-art gym, squash courts, snooker, billiards and table tennis tables, sauna, Jacuzzi, a crèche managed by qualified professionals, a multipurpose hall, pharmacy and supermarket.

The integrated township would also have outdoor facilities such as tennis courts, a cricket pitch, basketball court, jogging tracks, meditation garden, children’s play area and a lot of landscaped area with water bodies.

The entire residential area would be wi-fi enabled with round-the-clock security, controlled access in residential areas, visitor screening, CCTV surveillance and car-washing bays fully supported with 24/7 facility management call centre support, laundromat and other amenities.

The project would also have a 50,000 sq ft dome showcasing four model apartments, a designer home decorator’s retail gallery featuring some brands of home fittings, and a model of the The Metrozone project.

The company says that it is generating 35,000 direct and indirect employment opportunities through the project lifecycle.

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