Hiranandani eyeing Madurai, Coimbatore

Hiranandani Constructions, which last week launched a residential township in Chennai, is likely to launch housing projects in Coimbatore and Madurai, according to Mr Surendra Hiranandani, Managing Director, Hiranandani Constructions.

The company will also soon launch another project in Chennai, for the mass-market segment "hopefully within one year'', he said.

Its first project in Chennai, Hiranandani Upscale, targeted the `upper middle segment' with prices in excess of Rs 4,100 a sq. ft.

The next project, would be for the lower end and relatively more affordable.

The company is examining opportunities for acquiring land. It sees a huge potential for housing in Chennai.

Another township

The Hiranandani Group is also setting up another township project, Hiranandani Palace Gardens, to the southwest of Chennai.

This project is promoted by Hirco, a group company listed on the LSE AIM.

This will be a township on the `live-work-play' concept with a mix of residential, office, commercial, entertainment, school and healthcare space.

Coimbatore and Madurai are the two cities other than Chennai, the Hiranandani Constructions is looking at, he said.

Other places

The company is studying the market in these cities. It is also launching a housing project in Hosur.

Hiranandani Constructions, till recently a Mumbai-based developer, is now looking at a wider distribution of its projects. Its focus is now on Nagpur, Bangalore, Chennai, Hyderabad and Pune.

In Bangalore, it is setting up villa-style residence projects at Devanahalli.

Taken from Business Line

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