T Chitty Babu, chairman & CEO, Akshaya Pvt. Ltd, explains why their project – ABOV – is going to stand out amongst its peers.
Brief us about your current and upcoming projects.
Since 1995, Akshaya has 11.2 million sq-ft of real estate space, including ongoing and successfully delivered projects; of which 85% is in residential and 10% in office spaces. We are experimenting with premium villa plots, CBD zone big ticket luxury apartments in the heart of the city, the redevelopment of a landmark building as a JV project and are also scouting for opportunities in our stronghold OMR area as well as the new suburbs like Porur and beyond. Although this year the realty sector is slowly recovering from the slump experienced over the past two to three years, we are cautiously optimistic and testing out different project options. Our latest project is Earth with an overall 1.3 million sq-ft of plotted developments, out of which 4 lakh sq-ft is already sold out.
You operate across four cities in South India. How different are these markets and how do you handle their intricacies?
We have been operating in Chennai plus three other cities, which includes many projects launched in Coimbatore, Trichy and Salem. Out of the 156+ projects, we currently have four projects. In Coimbatore, Project Halton has been delivered and Orbit11 is in the final stage of completion, while Tiruchy Rich is in the developing stage and Hill Ville at Salem is in the approval stage.
Among your many pioneering projects is the tallest tower of Tamil Nadu, ABOV, which will stand at 132m. Tell us more about the project.
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