The Bangalore-based Pr­estige Group has launched its first residential apartment project Bella Vista, near Porur, a suburban area in west Chennai. The company has already done a few commercial office space projects and is also constructing a high-end mall in Chennai.

The project, to come up in an area of over 25 acre, originally planned to be an IT SEZ by the Chennai-based Rattha Group, is being developed by Prestige on a joint development basis. The land has been de-notified to develop a residential project now and the developers have received all necessary approvals from the authorities.

The project will offer 2,600 apartments, ranging from one BHK studio apartment to two, three, four BHK, besides offering variations in terms of study rooms and toilets, among others, taking the apartment size to around 2,600 sq ft. The group has offered a launch price of Rs 4,200 per sq ft for the first 500 apartments that are booked or sold. The group intends to increase the price before the scheduled completion.

The project promises a series of interconnected courtyards and safe pedestrian zones with water bodies and extensive gardens exclusively for its residents. There are a whole lot of common amenities and a large club-house to suit the multiple needs of such a large community of residents.

“This is our first residential development in this city, where there is scope for quality residential developments in this market,” says Irfan Razack, CMD, Prestige Group. “Chennai is a very important market for us in our growth plans and we are looking at several more high-profile launches,” Razack added.

According to him, the company intends to take up construction and finish the entire lot of 2,600 apartment units in a single phase. “The Chennai residential market has been growing at a rapid pace and there is growing demand for international-quality residential developments. The Prestige Group has a wide repertoire of residential projects to their credit, spanning across luxury apartments and villas to townships, across several cities in south India. We are happy to be partnering with them on this project,” said, HS Rattha, chairman, Rattha Group.

govardand@mydigitalfc.com