CHENNAI: Realty major Akshaya Pvt Ltd has unveiled the tallest residential tower in Tamil Nadu, with 38 floors. The project would comprise investment worth Rs 100-120 crore.
The tower has been named as Abov and it would be having one house per floor with 6,700 sft single plate homes at Kazhipatturon. With nearly 13 metre (433 feet) height, it has 31 units with 32 swimmint pools, comprising small swimming pools.
It would be coming up on about 1.66 acre via a joint venture. The investment would be from the internal accruals and also project financing, stated T Chitty Babu, chairman and CEO. The price range would be from Rs 6.5 crore to Rs 7.5 crore. The project would be finished in three years.
Babu added, “We thought to go vertical since the availability of land is getting limited and converting agricultural land means cutting down the availability of crops from our own future.”