LML Homes Buys 5-acre Land In Chennai For Rs 60 Cr

Realty firm LML Homes acquired a 5-acre land parcel in Kattupakkam, Chennai for Rs 60 crore, according to property consultant Anarock. In a statement, Anarock Group said it has been appointed as strategic partner to market and sell the proposed project, which will consist of about 400 premium apartments of various sizes developed over half a million square feet.

Mahesh Kothari, Managing Director of LML Homes, said the demand for premium homes is strong in Chennai. Sanjay Chugh, City Head - Chennai, Anarock Group, says, "Porur is witnessing significant real estate activity due to increasing demand from IT professionals working in nearby IT parks at OMR and also in Ambattur." The project is in close proximity to major IT hubs including DLF IT Park, Jayanth Tech Park and TCG IT park.

It is also well connected with the Sriperumbudur industrial belt. Porur is likely to see an influx of more IT parks by players like RMZ Corp, K Raheja Corp and ASV, demand for housing in and around the area will gain momentum in the coming quarters, he said. Mumbai-based Anarock is one of the leading real estate consultants in the country.

(PTI)