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NT Bureau
Chennai, Dec 24:

        The Bangalore-based real estate major Alliance group has announced it's entry into Chennai with the launch of a villa complex of around 150 villas in the first phase.

        The first phase is expected to be completed within the next two years. And the villa complex is to be constructed at Rs 200 crore to be located in a 25 acre plot close to the Porur junction off the Poonamalee high road.

        Manoj Namburu, chairman and managing director, Alliance group said that the villas would offer the best of Spanish architecture equipped with clubhouse offering facilities like swimming pools, gym, health club, tennis courts etc and even an ATM facility.

        He pointed out that as the project is located close to various MNC's such as Nokia, Saint Gobain Flextronics etc, it is expected to meet the growing demand for international lifestyle for the employees of these firms.

        The plot sizes of the villas range from 2000 sq ft to 3500 in 3 to 5 bedroom configurations.

        The cost of the villas would range from Rs 65 lakhs to 2 crore.

        The firm within a short span would launch 20 acre integrated township project in Padi near Anna nagar and a four millions square foot IT specific SEZ near Pallavaram is in the pipeline.

        The villas in Porur has a one year warranty with respect to maintenance and repair. Namburu added that the finance for the Porur project would be through internal accruals and internal funding and added that the firm is also to construct a high rise apartment in Coimbatore shortly.