Featherlite Developers foray into residential property development
Launches residential apartment complex 'Vaikuntam' on GST Road in Chennai.
- (1888PressRelease) October 26, 2010 - Featherlite Developers, part of the Featherlite Group, a leading brand in the furniture manufacturing & marketing segment today announced their foray into the Chennai residential property development space. Featherlite Developers today launched its flagship residential project 'Vaikuntam' on GST Road in Chennai.
Key highlights of 'Vaikuntam'
• Connectivity: Vaikuntam is located on the GST Main Road with Urapakkam and Gudvanchery railway stations on the either side.
• Affordable Price: At an introductory rate of just Rs 2900/sq. ft, the price of the apartments would range from Rs. 20 to 35 lakhs.
• Luxurious amenities: Fully equipped Club house and landscaped parks, kids play area, swimming pool, jogging track, cricket practice net, basketball court, party halls, dining area, etc.
• Location: Vaikuntam is centrally located between Crescent Engineering College & Estancia SEZ and is easily accessible from Sriram Gateway SEZ & L&T Estancia.
Vaikuntam is a residential apartment complex spread over 7.5 acres on GST road, Urapakkam, Chennai and housing 500 apartments with thoughtful enmities designed for a comfortable lifestyle. GST Road is the fastest growing industrial hub in Chennai housing many large manufacturing and auto companies which has created a great demand for residential and social infrastructure projects in the region. The apartments will be built in 3 phases. Phase I would constitute of 84 apartments - 1, 2 and 3 BHK which would be ready for handover by September 2011. The apartment complex has large well planned OSR spread over 75000 sq ft. with fully equipped Club house for the recreation and rejuvenation activities.
Speaking at the launch function, Mr. Jawahar Gopal, Chairman, Featherlite Group, said "Featherlite was established more than 45 years ago, and it is a brand synonymous with QUALITY, DESIGN and LASTING VALUE. With the investments in land and buildings, and our deep experience and knowledge of the real estate segment, the next strategic move is to enter residential property development in Chennai.
The real estate scenario in Chennai is growing at the rate of 20% annually, which is higher than the growth rate in Metros like Mumbai and Delhi. Hence it was decided to launch our first Residential project in Chennai."
In last three years, Featherlite has developed commercial spaces in Bangalore and Mysore total aggregating to over 1 lakh sq.ft. "Vaikuntam" is their first project in the residential space in Chennai and is designed by Architects and Master Planners, CPG Consultants, Singapore and Bangalore, offering a fusion of elegant lifestyle, green environment and superb amenities.
The three categories of apartments are:
* 1 BHK with a built-up area of 700 sq. ft.
* 2 BHK with a built-up area of about 1000 sq. ft.
* 3 BHK with a built-up area of 1200 sq. ft.
At an introductory Rate of just Rs 2900/sq. ft., its prime location and range of offerings the project is expected to be very attractive to most first time home buyers, since it is an excellent Investment for an elegant lifestyle.
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